Any member of the Horizon City City Council who has a substantial interest in a subdivided tract shall file, before a vote or decision regarding the approval of a plat for the tract, an affidavit stating the nature and extent of the interest and shall abstain from further participation in the matter. The affidavit must be filed with the City Clerk.
(Ordinance 0035 adopted 1/11/94)
For the purposes of this section a person with substantial interest is one who:
11.2.1 
Has an equitable or legal ownership interest in the tract with a fair market value of two thousand five hundred dollars ($2,500) or more;
11.2.2 
Acts as developer of the tract;
11.2.3 
Owns ten percent (10%) or more of the voting stock or shares of or owns either ten percent (10%) or more or $5,000 or more of the fair market value of a business entity that:
11.2.3.1 
Has an equitable or legal ownership interest in the tract with a fair market value of $2,500 or more; or
11.2.3.2 
Acts as developer of the tract; or
11.2.4 
Receives in a calendar year funds from a business entity described by subdivision (3) [11.2.3] that exceed ten percent (10%) of the person’s gross income for the previous year.
(Ordinance 0035 adopted 1/11/94)
A person also is considered to have a substantial interest in a subdivided tract if the person is related in the first degree by consanguinity or affinity to another person who, under subsection 11.2, has a substantial interest in the tract.
(Ordinance 0035 adopted 1/11/94)
For the purposes of this section; a tract includes the subdivided tract as a whole, not an individual lot.
(Ordinance 0035 adopted 1/11/94)
The finding by a court of a violation of this section of these Regulations does not render voidable an action of the City Council unless the measure would not have passed the City Council without the vote of the member who violated this section.
(Ordinance 0035 adopted 1/11/94)