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A. Except as provided herein a city official may not participate in any official action in which the official or a member of the official’s immediate family has a substantial financial interest. For purposes of this section participation shall not include discussing the matter with city officials or addressing the city council as a private citizen, but shall include voting and participating in the debate as a councilmember.

B. A city official shall disclose any substantial financial interest in any matter before the body, prior to debating or voting upon the matter. Any official of the body may raise a question concerning another member’s financial interests, in which case the member in question shall disclose relevant facts concerning the official’s financial interests in the subject of the action.

C. Whether the direct or indirect financial interest is substantial shall be determined by the presiding officer on a case-by-case basis, with evaluation of these factors:

1. Whether the financial interest is a substantial part of the consideration;

2. Whether the financial interest directly and substantially varies with the outcome of the official action;

3. Whether the financial interest is immediate and known or conjectural and dependent on the factors beyond the official action;

4. Whether the financial or private interest is monetarily significant;

5. Other factors deemed appropriate by the presiding officer under the specifics of the disclosure and the nature of the action taken before the council body, or commission.

D. After a city official has made known any substantial financial interest in any question to be voted upon by the body:

1. The officer shall ask to be excused from the debate and vote on the matter;

2. The presiding officer shall rule on the request;

3. The decision of the presiding officer shall be final unless overridden by a majority vote of the body.

E. In the event that the official with a substantial financial interest is the presiding officer, the request shall be ruled upon by a vote of the body. An official may not participate in the matter if the presiding officer or a majority vote of the body determines the financial interest is substantial. Neither the city official making the request nor any other city official, who has disclosed a similar or related interest in the same matter, may rule on any member’s request to be excused from voting on the matter or vote on the question of overriding such a ruling. [Ord. 19-19 § 2, 2019; Ord. 13-04 § 2.]