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[State statute relating to receipt of gifts: Official /employee shall <br />not accept a gift of substantial value or a substantial economic <br />benefit (1) which would tend to improperly influence a <br />reasonable person in his position to depart from the faithful <br />discharge of his public duties, or (2) which he knows or a <br />reasonable person should know is primarily for the purpose of <br />rewarding him for official action he has taken. C.R.S. 24-18 - <br />104 (1) (b) <br />Note objective standard included in statute. Therefore it is not <br />a defense that the gift did not actually influence the decision. <br />Statute is also broader than Louisville provisions in that <br />Louisville provisions relate only to parties contracting with the <br />City, while the state statute covers any relationship - land <br />application approvals, building permits, liquor licenses, etc.] <br />An "economic benefit tantamount o a gift of substantial value" <br />includes: (1) a loan at an interest rate substantially lower than <br />the prevalent commercial rate for similar loans, or (2) <br />compensation received for private services at a rate <br />substantially exceeding their fair market value ofsuch services. <br />C.R.S. 24 -18- 104(2) <br />Several items are specifically identified as not constituting gifts: <br />- campaign contributions <br />- honoraria <br />- "items ofperishable or nonpermanent value, including, but not <br />limited to, meals, lodging, travel expenses, or tickets to sporting, <br />recreational, education or cultural events." <br />C.R.S. 24- 18- 104(3)] <br />[State statute relating to involvement with government contracts <br />generally: <br />General rule: Officials /employees "shall not be interested in <br />any contract made by them in their official capacity or by any <br />body, agency or board of which they are members or <br />employees." C.R.S. 24 -18- 201(1) <br />Page 4 of 26 <br />