In any case where a municipal officer, official or employee, elected or appointed, knows or by the exercise of reasonable diligence could know that he is interested to any appreciable degree, either directly or indirectly, in any contract for the sale or furnishing of any personal property for the use of the municipality or for any services to be rendered for such municipality involving the expenditure by the Municipality of more than three hundred dollars ($300.) in any year, he shall notify the Council thereof, and any such contract shall not be passed and approved by the Council except by an affirmative vote of at least three-fourths (3/4) of the members thereof. In case the interested officer is a member of the Council, he shall refrain from voting upon said contract. The provisions of this section shall not apply to cases where such officer, official or employee of the person, firm or corporation to which money is to be paid in a capacity with no possible influence on the transaction and in which he cannot possibly be benefited thereby, either financially or in any other material manner. Any officer, official or employee who shall knowingly violate the provisions of this section shall be liable to the municipality upon his bond, if any, or personally, to the extent of the damage shown to be sustained thereby by the municipality, and subject to ouster from office or employment upon conviction of any such violation.
Pursuant to Section 805B of the Charter, a Code of Ethics for elected officials and employees of departments and members of various boards, commissions and authorities is hereby established. No elected or appointed officer or employee of the municipality shall direct or compel any other officer or employee of the municipality to do or perform any outside private work during the hours he is employed by the municipality, nor shall any officer or employee use or cause to be used any municipality-owned property for any private purpose. The penalty for violating this section shall be the same as that set forth in the conflict of interest section.