[Ord. No. 2020-187, 12-21-2020]
As used in this Article, the following words shall have the following meanings:
BUSINESS ENTITYMeans any corporation, limited liability company, sole proprietorship, firm, partnership representation, association, venture, trust or corporation for profit.
CONTRACTMeans any express or implied agreement which creates, modifies, or terminates a particular relationship with the Town, and shall include the designation of a depository for public funds.
INTERESTMeans a pecuniary or valuable benefit accruing to a public officer or employee, individually, as a result of a contract or transaction which is, or may be, the subject of an official act or action by or with the Town, except for such contracts or transactions which by their terms and by the substance of their provisions confer the opportunity and right to realize the accrual of similar benefits to all other persons and/or property similarly situated.
(1) For the purposes of this Article, a public officer or employee shall be deemed to have an interest in the affairs of:
b. Any person or business entity with whom a contractual relationship exists with the public officer or employee;
c. Any business entity in which the public officer or employee is an officer, director, owner, employee or investor;
d. Any business entity in which the stock of, or legal or beneficial ownership of, in excess of five percent (5%) of the total legal and beneficial ownership, is controlled by or owned by the public officer or employee.
OFFICIAL ACTIONMeans any legislative, administrative or appointive act of any officer or employee of the Town, or any agency, board, committee or commission thereof.
PUBLIC OFFICER OR EMPLOYEEMeans any person holding a position by election, appointment or employment in the service of the Town, whether paid or unpaid.
RELATIVEMeans any person related to any public officer/employee by blood or marriage, to include, but not be limited to, parents, spouses, children, brothers and sisters, parents-in-law, nephews, nieces, aunts, uncles, first cousins, grandparents, grandchildren, and children-in-law, and a divorce or separation between spouses shall not be deemed to terminate any such relationship.