(a) No elected or appointed officer or employee of the Town or member of any Town board or commission shall be beneficially interested directly or indirectly in any matter requiring the discharge of his or her public office. The purpose of this section is to prohibit the use of public office for financial or other advantage, whether direct or indirect, by any means or methods.

(b) No elected or appointed officer of the Town shall be beneficially interested directly or indirectly, in any contract with the Town, regardless of the amount or furnish any material or perform any labor, except in the discharge of his or her official duties, unless the contract shall have been awarded upon bids advertised for publication. The publication shall be at least two times in a newspaper having general circulation in the Town; the second and subsequent publications shall be at least seven days prior to the opening of such bids.

(c) No officer or employee of the Town shall take part in any decision concerning the business of the Town in which he or she has a direct or indirect financial interest, greater than any other citizen or taxpayer in the Town aside from his or her salary as an officer or employee. This provision shall not apply in the event of any emergency where immediate action shall be deemed more important to the Town than receipt of formal bids.

(d) Nothing in this section shall be construed to require the Town to take bids on contracts generally, under circumstances wherein no officer or employee has a direct or indirect interest in the contract. (Added 2005, No. M-9 (Adj. Sess.), § 2, eff. Feb. 24, 2005.)