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<br /> D. "Interest" means a pecuniary or valuable benefit <br />accruing to a PUblic officer or employee, individually, as a result <br />of a contract or transacti.on which is, or may be, the subject of an <br />official act or action by or with the City, except for such contracts <br />or transactions whlch by t:heir terms and by the substance of their <br />provisions confer the opportunity and right to realize the accrual of <br />similar benefits to all ot:her persons and/or property simllarly <br />situated. <br /> l. For the purposes of this chapter, a publlc <br /> otficer or employee shall be deemed to have an <br /> interest in the affairs of: <br /> a. Any relative; <br /> b. Any person or business entity with <br /> whom a contractual relationship <br /> exists with the public officer or <br /> employee; <br /> c. Any business entity In which the <br /> public officer or employee is an <br /> officer, d.irector, owner, employee, <br /> or investor; <br /> d. Any business entity In which the stock <br /> of, or legal or beneficial ownership of, <br /> in excess of five percent of the total <br /> stock or total legal and beneficial <br /> ownership, lS controlled or owned. by <br /> the public officer or employee. <br /> E. .. Official Ac.t:ion" means any legislative, administrative, <br />or appointive act of any officer or employee of the city or any agency, <br />board, conunittee or commission thereof. <br /> F. "Public Offlcer or Employee" means any person holdlng <br />a position by election, appointment, or employment in the service of <br />the City, whether paid or unpaid.. <br /> 2.80,,030 Code of Ethics <br /> The fOllowing requirements shall constitute a Code of Ethics <br />establishing reasonable st:andards and guid.ellnes for the ethical <br />conduct of public officers and. employees of the city: <br /> A. No public officer or employee having the power or duty <br />to perform an official act, related. to a contract or transaction <br />which lS the subject of an official act or action of the City, shall: <br /> l. Have or thereafter acquire an interest in <br /> such contract or transaction, unless said contract <br /> or transaction resulted from the proper bid process <br /> for the City. <br /> 2. Have an interest in any business entity <br /> representing, advising, or appearing on behalf <br /> of any person involved in such contract or trans- <br /> action with the City, or; <br /> J. Have solicited or accepted present or <br /> future employment with a person or business entity <br /> involved in such contract or transaction with the <br /> City, or; <br /> 4. Have solicited, accepted, or granted a <br /> present or future gift, favor, service, or thing <br /> of value from or to a person involved in a contract <br /> or transaction with the City, except that provisions <br /> of the subsection shall not apply to an occasional <br /> non-pecuniary gift of $20.00 in value or less, to an <br /> award publically presented in recognition of public <br /> service. <br /> -2- <br />