1998 022 Ordinance - Laserfiche WebLink

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525.10 HAVING AN UNLAWFUL INTEREST IN A PUBLIC CONTRACT. (a) No public official shall knowingly do any of the following: (1) During his term of office or within one year thereafter, occupy any position of profit in the prosecution of a public contract authorized by him or by a legislative body, commission or board of which he was a member at the time of authorization unless the contract was let by competitive bidding, to the lowest and best bidder; (2) .Have an interest in the profits or benefits of a public contract entered into by or for the use of the Municipality or governmental agency or instrumentality with which he is connected; (3) Have an interest in the profits or benefits of a public contract that is not let by competitive bidding if required by law, and that involves more than one hundred fifty dollars ($150.00) . (b) In the absence of bribery or a purpose to defraud, a public official, member of his family or any of his business associates shall not be considered as having an interest in a public contract if all of the following apply: (1) The interest of that person is limited to owning or controlling shares of the corporation, or being a creditor of the corporation or other organization that is the contractor on the public contract involved, or that is the issuer of the security in which public funds are invested; (2) The shares owned or controlled by that person do not exceed five percent (5 %) of the outstanding shares of the corporation, and the amount due that person as creditor does not exceed five percent (5%) of the total indebtedness of the corporation or other organization; (3) That person, prior to the time the public contract is entered into, files with the Municipality or governmental agency or instrumentality involved, an affidavit giving his exact status in connection with the corporation or other organization. (c) This section does not apply to a public contract in which a public official, member of his family, or one of his business associates, has an interest, when all of the following apply: (1) The subject of the public contract is necessary supplies or services for the Municipality or governmental agency or instrumentality involved; (2) The supplies or services are unobtainable elsewhere for the same or lower cost, or are being furnished to the Municipality or governmental agency or instrumentality as part of a continuing course of dealing established prior to the public official's becoming associated with the Municipality or governmental agency or instrumentality involved; (3) The treatment accorded the Municipality or governmental agency or instrumentality is either preferential to or the same as that accorded other customers or clients in similar transactions; (4) The entire transaction is conducted at arm's length, with full knowledge by the Municipality or governmental agency or instrumentality involved, of the interest of the public official, and the public official takes no part in the deliberations or decisions of the Municipality or governmental agency or instrumentality with respect to the public contract. 1998 Replacement