No member of the Council or any officer or employee of the Municipality shall have a financial interest, direct or indirect, in any contract with or sale to the Municipality of any materials, supplies or services, or any land or interest in land, as prescribed by ordinance of Council. A person who knowingly violates this section shall be guilty of having an unlawful interest in a public contract, and upon conviction thereof shall be fined in accordance with law prescribing the penalty for such offense, and shall be removed from office. Any contract or agreement made in violation of this section shall be voidable at the election of the Council.
(Amended November 5, 1996.)