[Adopted 10-24-2011 by Ord. No. 11-32]
A.
Prohibited interest in contracts supported by federal grant funds. Notwithstanding any other subsection of this § 37-55, no officer, employee, or agent of the Village shall participate in selection, or in the award or administration of a contract supported by federal funds if a conflict of interest, real or apparent, would be involved. For purposes of this Subsection A, such a conflict would arise when the officer, employee or agent; any member of the officer's, employee's or agent's immediate family; the officer's, employee's, or agent's partner; or an organization which employs, or is about to employ, any of the above has a financial or other interest in the firm selected for award of the contract.
B.
Prohibition on municipal officer interest in contracts.
(1)
No elected or appointed Village officer, other than a person serving on an advisory panel or commission whose duties do not include evaluating, recommending, approving or voting on the contract, work or business, may be financially interested, directly in his or her own name or indirectly in the name of any other person, association, trust, or corporation, in any contract, work or business of the Village for which such officer may be called upon to act or vote. No such officer may represent, either as agent or otherwise, any person, association, trust or corporation, with respect to any application or bid for any contract or work in regard to which such officer may be called upon to vote. Any contract made and procured in violation of this Subsection B is void.
(2)
No elected or appointed Village officer may be financially interested,
directly in his or her own name or indirectly in the name of any other
person, association, trust or corporation, in the purchase of any
property that belongs to the Village, is sold for taxes or assessments,
or is sold by virtue of legal process resulting from a Village-initiated
lawsuit.
(3)
A Village officer shall not be deemed "interested" within the meaning of this Subsection B if:
(a)
The officer:
[1]
Owns or holds an interest, not in the officer's individual name or
through a mutual fund or exchange-traded fund, of 1% or less in a
company;
[2]
That company is involved in the transaction of business with the
Village; and
[3]
That company's stock is traded on a nationally recognized securities
market; or
(b)
The officer (i) is an employee of a company or owns or holds
an interest in the officer's individual name of 1% or less in a company;
(ii) that company is involved in the transaction of business with
the Village; and (iii) that company's stock is traded on a nationally
recognized securities market, so long as the Village official publicly
discloses the fact that he or she is an employee or holds an interest
of 1% or less in a company before deliberations regarding the proposed
award of the contract are underway, and the official both abstains
from voting on the award of the contract and also refrains from participating
in any manner in the negotiation, approving, or awarding of the contract
work or business.
(4)
Subsection B(1) notwithstanding, any elected or appointed officer of the Village may provide materials, merchandise, property, services or labor to the Village:
(a)
If:
[1]
The contract is with a person, firm, partnership, association,
corporation, or cooperative association in which the Village officer
has less than a 7.5% share in ownership; and
[2]
The interested Village officer publicly discloses the nature
and extent of his or her interest prior to or during deliberations
concerning the proposed award of the contract; and
[3]
The interested Village officer abstains from voting on the award
of the contract, though he or she shall be considered present for
the purposes of establishing a quorum; and
[4]
The contract is approved by a majority vote of all corporate
authorities presently holding office; and
[5]
The contract is awarded to the lowest responsible bidder after
sealed bids if the amount of the contract exceeds $1,500 or is awarded
without competitive bidding if the amount of the contract is less
than $1,500; and
[6]
The award of the contract does not cause the aggregate amount
of all such contracts awarded to the same person, firm, association,
partnership, corporation, or cooperative association in the same fiscal
year to exceed $25,000.
(b)
Or if:
[1]
The award of the contract is approved by a majority vote of
the corporate authorities, provided that the interested Village official
shall abstain from voting; and
[2]
The amount of the contract does not exceed $2,000; and
[3]
The award of the contract would not cause the aggregate amount
of all such contracts so awarded to the same person, firm, association,
partnership, corporation, or cooperative association in the same fiscal
year to exceed $4,000; and
[4]
The interested Village official publicly discloses the nature
and extent of his or her interest prior to or during deliberations
concerning the proposed award of the contract; and
[5]
The interested Village official abstains from voting on the
award of the contract, though he or she shall be considered present
for the purposes of establishing a quorum.
(c)
Or if:
[1]
The contract is with a person, firm, partnership, association,
corporation, or cooperative association in which the interested Village
official has less than a one-percent share in the ownership; and
[2]
The award of the contract is approved by a majority of the corporate
authorities, provided that any such interested official shall abstain
from voting; and
[3]
Such interested Village official publicly discloses the nature
and extent of his or her interest before or during deliberations concerning
the proposed award of the contract; and
[4]
The interested Village official abstains from voting on the
award of the contract, though he or she is considered present for
the purposes of establishing a quorum.
