§ 34.01  DEFINITIONS.
   For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
   COMPENSATION.  Any economic benefit received in return for services, property, or investment.
   DISCRETIONARY AUTHORITY.  Any economic benefit received in return for services, property, or investment.
   ECONOMIC BENEFIT.  Any money, real or personal property, purchase, sale, lease, contract, option, credit, loan, discount, service, or other tangible or intangible thing of value, whether similar or dissimilar to those enumerated.
   EMPLOYEE.  Any person employed by the city, including those individuals employed on a part-time or seasonal basis, but the term shall not be extended to apply to any independent contractor.
   ENTITY.  A sole proprietorship, partnership, limited partnership, firm, corporation, professional corporation, holding company, joint stock company, receivership, trust, or any other entity recognized by law through which business may be conducted.
   GIFT.  A favor, hospitality, or economic benefit, other than compensation.
   OFFICER or OFFICIAL.  Any member of the City Council and any appointive member of a board, commission, authority, or committee set up by ordinance, state law, or otherwise on a temporary or permanent basis.
   RELATIVE.  Any person related to an officer, official, or employee within the first degree by consanguinity or affinity and shall include a spouse, father, mother, son, daughter, brother, or sister.
   REMOTE INTEREST.  An interest of a person or entity, including an official, who or which would be affected in the same way as the general public.  The interest of an Alderman in the property tax rate, general city fees, city utility charges, or a comprehensive zoning ordinance or other similar decision is a remote interest to the extent that the Alderman is affected in common with the general public.
   SUBSTANTIAL INTEREST.  An interest in another person or an entity if:
      (1)   The interest is ownership of 10% or more of the voting stock, shares, or equity of the entity or ownership of $5,000 or more of the equity or market value of the entity;
      (2)   Funds received by the person from the other person or entity either during the previous calendar year equaled or exceeded $5,000 in salary, bonuses, commissions, or professional fees or $20,000 in payment for goods, products, or nonprofessional services, or 10% of the person's gross income during that period, whichever is less;
      (3)   The person serves as a corporate officer or member of the board of directors or other governing board of the for-profit entity, other than a corporate entity owned or created by the City Council; or
      (4)   The person is a creditor, debtor, or guarantor of the other person or entity in an amount of $5,000 or more.
   SUBSTANTIAL INTEREST IN PARTNERSHIPS, PROFESSIONAL CORPORATIONS, AND OTHER ENTITIES.  If a city officer, official, or employee is a member of a partnership or professional corporation, or conducts business through another entity, a substantial interest of the partnership, professional corporation, or entity shall be deemed to be a substantial interest of the city officer, official, or employee if:
      (1)   The partnership or professional corporation has fewer than 20 partners or shareholders;
      (2)   Regardless of the number of partners or shareholders, the officer, official, or employee has an equity interest, share of draw equal to or greater than 5% of the capital or revenues of the partnership, professional corporation, or other entity; or
      (3)   With regard to the partnership, professional corporation, or other entity's substantial interest in a particular client, the officer, official, or employee has personally acted within the preceding 24 months in a professional or fiduciary capacity for that client.
   SUBSTANTIAL INTEREST IN REAL PROPERTY.  An interest in real property which is an equitable or legal ownership with a market value of $5,000 or more.
(Ord. 07-0116, passed - -)