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<br />City Council <br />Special Meeting Minutes <br />February 3, 2010 <br />Page 4 of 7 <br /> <br />C.RS. address a particular issue, both may need to be considered to determine <br />the more restrictive. In other instances, if the conduct is not addressed in the <br />Code of Ethics, but addressed in C.RS., then the provisions of C.RS. will apply. <br /> <br />SECTION 5-7 OF THE lOUISVlllE CODE OF ETHICS - DEFINITIONS <br /> <br />1. "Interest" means a pecuniary, property, or commercial benefit, or any <br />other benefit the primary significance of which is economic gain or the <br />avoidance of economic loss. <br />2. Interest of the following persons and entities shall be deemed to <br />constitute an interHst of the officer, public body member or employee: <br /> <br />· Relatives <br />· Business in which the official/employee is an officer, director, <br />employee, partner, principal, member or owner (other than <br />stockholder). <br />· Business in whiich the official/employee controls more than 1 % of <br />the outstanding shares. <br />· Any business entity in which the public body member/employee is <br />an officer, director, employee, partner, principal member or owner <br />(other than stockholder) where the business entity is seeking to <br />advance financiial benefit through an official action of the City, if the <br />officer would bEl directly or indirectly involved in making the <br />decision. <br />· "Interest" is deemed to continue for 1 year after the officer or <br />employee's actual interest has ceased. <br />· Any corporation whether for profit or nonprofit, governmental entity, <br />business, trust, limited liability company, partnership, association, <br />or other legal entity. <br />· Any form of business, sole proprietorship, firm or venture, carried <br />on for profit. <br /> <br />SECTION 5-9 OF THE lOUISVlllE CODE OF ETHICS - STANDARDS <br /> <br />Conduct relating to public contracts. Section 5-9(b): No official/employee who <br />has the power or duty to perform, or has any influence over, and official action <br />related to a contract shall: <br /> <br />(a) Have an interest in a contract between a business entity and the City <br />(unless the City's procedures applicable to the solicitation and <br />acceptance of such contract are followed and unless the <br />official/employee has complied with Section 5-10). <br />