§ 3.25.120. Conflict of interest.

A.

No elected official, agent or employee of the city shall:

1.

Take any action, make any decisions, or exercise any official judgement or discretion with respect to a city investment with the intent to confer a benefit upon, or provide a material advantage to such person, to a member of such person's immediate family, or to any financial institution in connection with the investment of city moneys;

2.

Accept any gift, gratuity or other inducement which is given or offered directly or indirectly in connection with the investment of city moneys. Prohibited gifts and gratuities include, but are not limited to: payment of money, gift of real or personal property, reduced commission for investments for the person's own account, reduced interest rate, waiver of penalties and forgiveness of delinquency or default on a loan or other consideration of value;

3.

Participate in a decision regarding the investment of city money, if the decision concerns or relates to the investment or potential investment of money in or the purchase or potential purchase of, a security from or offered by any financial institution or other entity of which the person, or a member of the per-son's immediate family, is an officer, director or employee, and in which the person or family member has a substantial financial interest that could be affected by the decision; or in which a person or family member, not a director, officer or employee has a substantial financial interest that could be affected by the decision;

4.

Perform any other act or omission which would constitute a violation of the public trust imposed upon persons handling public moneys, or which would otherwise impair the public confidence in the integrity of the city's financial affairs.

B.

Violation of subsection A. of this section shall constitute cause for terminating employment with the city or subject an elected official to sanctions for violation of the public trust.

C.

Any institution whose officers, directors, employees or agents offer a benefit or other inducement to a person identified in subsection A. of this section, in addition to any other penalty provided by state, federal or city law, shall be disqualified from bidding or receiving city funds and from acting as a custodial representative for a period of five years.

(Ord. 95-4 (part), 1995).