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Title 04
Chapter 04.25
Section 04.25.120
 

Title 04 Administrative Agencies and Procedures

Chapter 04.25 Public Development Authority

Article I. General Provisions

Section 04.25.120 Code of Ethics
  1. Except as provided in this section, a director or employee of the authority may not participate in a decision of the authority in which that person or a member of that person’s immediate family has a financial interest, unless the financial interest is a remote financial interest and participation is approved under subsection (B) of this section.
  1. Remote Financial Interest.
    1. A director or employee may participate in a decision when that person or a member of that person’s immediate family has only a remote financial interest if:
      1. the fact and extent of the interest is disclosed to the board in a public meeting; and
      1. is noted in the minutes of the board before any participation by that person in the decision; and
      1. thereafter, in a public meeting the board by vote authorizes or approves the participation. If the person whose participation is under consideration is a director, that person may not vote under this subsection.
    1. For purposes of this subsection “remote financial interest” means that of a/an:
      1. nonsalaried officer or director of a nonprofit corporation,
      1. employee or agent of a contracting party where the compensation of the employee or agent consists entirely of fixed wages or salary and the contract is awarded by bid or by other competitive process,
      1. landlord or tenant of a contracting party, except in cases where the property subject to the lease or sublease is owned or managed by the authority,
      1. holder of less than one percent of the shares of the corporation or cooperative that is the contracting party, or
      1. owner of a savings and loan or bank savings or share account or credit union deposit account if the interest represented is less than two percent of the total deposits held by the institution.
  1. A director or employee is not considered to be financially interested in a decision when the decision could not affect that person in a manner different from its effect on the public.
  1. For purposes of this section the phrase “participation in a decision” includes all discussions, deliberations, preliminary negotiations and votes.
  1. The board may adopt such additional conflict of interest and ethical rules as it considers appropriate.

Date Passed: Monday, March 26, 2007

Effective Date: Sunday, May 6, 2007

Recodification ORD C33995 Section 1