City Council Study Session Agenda and Packet 2016 01 12

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• "Interest" is deemed to continue for 1 year after the officer /(employee's) actual interest has ceased. 3. "Business entity" means: • Any corporation whether for profit or nonprofit, governmental entity, business, trust, limited liability company, partnership, association, or other legal entity; and • Any other form of business, sole proprietorship, firm, or venture, carried on for profit. B. LCOE SECTION 5 -9 - ETHICS STANDARDS (THE GUTS OF THE LCOE) 1. Conduct relating to public contracts Section 5 -9(b): No official /employee who has the power or duty to perform, or has any influence over, an official action related to a contract shall: Have an interest in a contract between a business entity and the City (unless the City's procedures applicable to the solicitation and acceptance of such contract are followed and unless the official /employee has complied with Section 5 -10) b) Have an interest in a business entity that has a contract with the City (unless the City's procedures applicable to the solicitation and acceptance of such contract are followed and unless the official /employee has complied with Section 5 -10) c) Appear before the City Council (or other public body) on behalf of any business entity that has a contract with the City (Note: No exception based on compliance with Section 5 -10) d) Solicit or accept employment with any party to a contract with the City, "if the offer or acceptance is related to or results from official action performed by the official /employee with regard to the contract." e) Solicit or accept a present or future gift, favor, discount, service or thing of value from a party involved in a contract with the City, except an occasional nonpecuniary gift of $15 or less, unless the gift, no matter how small, may be associated with a contract that is or may be one for which the officer /employee has the power or duty to perform an official action Page 3 of 26