Personal Financial Interest

Ordinance

of the Town of Chebeague Island

Maine

Adopted by the Town Meeting: July 1, 2007

Effective: July 1, 2007

Attest:

Town Clerk

Seal:

SECTION 103. PERSONAL FINANCIAL INTEREST.

Any officer or town employee who has a substantial financial interest, direct or indirect or by reason of more than ten percent (10%) ownership of shares outstanding in any corporation or entity or by reason of employment in any corporation or entity for which public funds may be authorized at town meeting, in any contract with the town or in the sale of any land, material, supplies, or services to the town or to a contractor supplying the town shall make known that interest and shall refrain from voting upon or otherwise participating in his or her capacity as an officer or town employee in making of such sale or in the making or performance of such contract. Any officer or employee who conceals such a substantial financial interest or violates the requirements of this section shall be guilty of malfeasance in office or position and shall forfeit his or her office or position. Violation of this section with the knowledge expressed or implied of the person or corporation or entity contracting with or making a sale to the town shall render the contract or sale voidable by the Board.