2.05.070 Conflict of interest.
A city officer or employee shall not have an interest, direct or indirect, in any contract or job of work or material or the profits thereof or services to be furnished or performed for his city, unless expressly permitted by law. A contract entered into in violation of this section is void. The provisions of this section do not apply to:
Statutory reference note: Iowa Code, Section 362.5.
(1) Compensation of Officers. The payment of lawful compensation of a city officer or employee holding more than one city office or position, the holding of which is not incompatible with another public office or is not prohibited by law.
Statutory reference note: Iowa Code, Section 362.5(3)(a).
(2) Investment of Funds. The designation of a bank or trust company as a depository, paying agent, or for investment of funds.
Statutory reference note: Iowa Code, Section 362.5(3)(b).
(3) City Treasurer. An employee of a bank or trust company, who serves as treasurer of a city.
Statutory reference note: Iowa Code, Section 362.5(3)(c).
(4) Stock Interests. Contracts in which a city officer or employee has an interest solely by reason of employment, or a stock interest of the kind described in subsection (8) of this section, or both, if the contracts are made by competitive bid, publicly invited and opened, and if the remuneration of employment will not be directly affected as a result of the contract and the duties of employment do not directly involve the procurement or preparation of any part of the contract. The competitive bid requirement of this subsection shall not be required for any contract for professional services not customarily awarded by competitive bid.
Statutory reference note: Iowa Code, Section 362.5(3)(e).
(5) Newspaper. The designation of an official newspaper.
Statutory reference note: Iowa Code, Section 362.5(3)(f).
(6) Existing Contracts. A contract in which a city officer or employee has an interest if the contract was made before the time he was elected or appointed, but the contract may not be renewed.
Statutory reference note: Iowa Code, Section 362.5(3)(g).
(7) Volunteers. Contracts with volunteer firemen or civil defense volunteers.
Statutory reference note: Iowa Code, Section 362.5(3)(h).
(8) Corporations. A contract with a corporation in which a city officer or employee has an interest by reason of stockholdings when less than five percent of the outstanding stock of the corporation is owned or controlled directly or indirectly by the officer or employee or the spouse or immediate family of such officer or employee.
Statutory reference note: Iowa Code, Section 362.5(3)(i).
(9) Competitive Bids. A contract made by competitive bid, publicly invited and opened, in which a member of a city board of trustees, commission, or administrative agency has an interest if he is not authorized by law to participate in the awarding of the contract. The competitive bid requirement of this subsection does not apply to any contract for professional services not customarily awarded by competitive bid.
Statutory reference note: Iowa Code, Section 362.5(3)(e).
(10) Cities under 3,000 Population. Contracts made by a city of less than 3,000 population, upon competitive bid in writing, publicly invited and opened.
Statutory reference note: Iowa Code, Section 362.5(3)(d).
[Code 1975 § 1-1.0207.]