§ 2-7-65. SUBSTANTIAL INTEREST OF RELATIVE.

(A)

A substantial interest of a spouse of a City official or employee shall be deemed to apply to that official or employee for the purposes of Sections 2-7-63 ( Prohibition on Conflict of Interest ) and 2-7-64 ( Disclosure of Conflict of Interest ) concerning disclosure and recusal or reassignment.

(B)

If the spouse of a City official or employee does business through a partnership or other entity, the substantial interests of that partnership or entity shall not be deemed under Section 2-7-61 ( Conducting Business Through Partnerships, Professional Corporations, and Other Entities ) to apply to the City official or employee.

(C)

A City official or a City employee may not participate in a vote or decision affecting a substantial interest of a person to whom the official or employee is related in the first or second degree of consanguinity or affinity. This subsection does not apply to a substantial interest of a relative based on the relative's employment by a governmental body.

(D)

For the purposes of Subsection (C): A relative other than a spouse has a substantial interest if:

(1)

the person owns 10 percent or more of the voting stock or shares of the entity or owns either 10 percent or more or $15,000 or more of the fair market value of the entity; or

(2)

funds received by the person from the entity exceed 10 percent of the person's gross income for the previous year; or

(3)

the person has a substantial interest in real property if the interest is an equitable or legal ownership in real property with a fair market value of $2,500 or more.

Source: 1992 Code Section 2-3-65; Ord. 031204-9; Ord. 031211-11; Ord. 20110428-047.