Every candidate for election to a city office under the provisions of the charter and ordinances of the City of Rutland shall, within 10 days after the date of the election at which he/she is a candidate, file a sworn itemized statement with the clerk, on forms provided by the clerk and approved by the board of aldermen, setting forth each expenditure, listed by amount, date, to whom paid and for what purpose; and all sources of revenue including the names of contributors of $25 or more relating to his/her campaign for such office. Such statement once filed, shall be recorded by the city clerk in the election book and be available for inspection and examination as part of the public records.
(a) 
Any person elected to office who fails to file the statement provided for in § 651 of this chapter with the city clerk within the ten-day period immediately following the date of the election shall be prohibited from acting in the official capacity for which he/she was elected until such time as he/she files said report.
(b) 
Any person elected to office who fails to file the statement provided for in § 651 of this chapter with the city clerk, or who fails to file within 30 days from the date of the election, unless excused by the board of civil authority, shall be disqualified from holding the office to which he/she is elected and the office to which he/she was elected shall be filled in accordance with the provisions of the charter and ordinances of the city.
(c) 
Any unsuccessful candidate who fails to file the statement provided for in § 651 of this chapter within 30 days from the date of the election shall be prohibited from holding the office for which he/she ran for a period of two years, unless excused by the board of civil authority.
(d) 
In addition to the other penalties provided herein a candidate for election who fails to comply with the provisions of this chapter shall pay a penalty of not less than $50 nor more than $500.