(a) Every council member who has a substantial personal or private interest in any bill or measure proposed or pending before the council shall file a written report of the nature of the interest with the city clerk. The city clerk shall record the statement in the council minutes. A council member who has a substantial personal or private interest in any bill or measure pending before the council shall disqualify himself from voting on any matter relating to such interest.

    (b) The following definitions apply to this section:

     Business entity. A corporation, association, firm, partnership, proprietorship, or business entity of any kind or character.

     Dependent child. All children, stepchildren, foster children and wards under the age of eighteen (18) residing in an individual's household and who receive in excess of fifty (50) percent of their support from him.

     Substantial interest. Ownership by the individual, his spouse or his dependent children, whether singularly or collectively, directly or indirectly, of ten (10) percent or more of any business entity, or of an interest having a value of ten thousand dollars ($10,000.00) or more, or the receipt by an individual, his spouse or his dependent children, whether singularly or collectively, of a salary, gratuity, or other compensation or remuneration of five thousand dollars ($5,000.00) or more per year from any individual, partnership, organization, or association within any calendar year.

     Substantial personal or private interest in any bill or measure. Any interest in a bill or measure which results from a substantial interest in a business entity.

(Ord. No. 14962, § 1, 9-3-96; Ord. No. 15341, § 1, 9-2-97)

     Editor's note--Ord. No. 14962, adopted August 19, 1996 repealed § 2-53.1, which pertained to similar subject matter and enacted the provisions set out herein.