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2/4/2020 <br />9 <br />Conflicts of Interest <br />A conflict of interest occurs when an <br />individual has a personal interest (direct or <br />indirect) in a Council decision (or another <br />decision made in his or her official capacity). <br />Three categories of potential conflicts <br />•Contractual <br />•Incompatible offices <br />•Self-interest in non-contractual matters <br />Contractual Conflicts <br />What is it? <br />A personal financial interest in a contract with the City. <br />Rule <br />Prohibited unless a statutory exception exists <br />Purpose <br />Protects public money <br />Exceptions <br />•Designating a bank or newspaper <br />•Contracting for goods or services that are not competitively bid <br />•Several other minor exceptions <br />Procedure if a contractual contract exception exists <br />•Disclose interest and abstain from discussions <br />•Abstain from vote <br />•Council must approve contract by unanimous vote <br />•Additional requirements for most exceptions <br />Penalties <br />•Bad press <br />•Contract void <br />•Gross misdemeanor ($3,000/one <br />year prison)