§ 34-4. Forfeiture.

(a)

If the city officer has a prohibited financial interest, either direct or indirect under section 34-2, and such is found to be a violation of section 34-2, such action shall constitute malfeasance in office, subjecting the city officer to forfeiture of office pursuant to the procedural provisions of sections 2.05 and 12.01 of the City Charter.

(b)

If a city employee has a prohibited financial interest, either direct or indirect, under section 34-3, he or she automatically forfeits his or her employment upon the final approval by the city council of the contract or transaction in which the city employee has prohibited financial interest.

(c)

If a prohibited financial interest of either a city officer or a city employee is not discovered until after the award of the contract or transaction has occurred, forfeiture shall occur as soon as ascertained, under either subsections (a) or (b) above as applicable, and regardless of the lapse of time between the award and the discovery of the prohibited financial interest. If a city contract is in existence at the time the city officer or city employee is elected or appointed to their position, and the city officer or employee has a direct or indirect financial interest as defined in section 34-2 or section 34-3, the city officer or employee shall not be required to forfeit their position and the city contract shall not be deemed voidable. Any contract extensions, options or renewals however, may not be granted if the prohibited financial interest of the city officer or employee exists at the time that the contract extension, option or renewal is due.

(Ord. No. 2003-O-168, § 104, 8-4-03)