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ORDINANCE NO. 20142 <br />AN ORDINANCE CONCERNING INTERESTS IN CONTRACTS, AND <br />AMENDING SECTION 2.016 OF THE EUGENE CODE,1971. <br />THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: <br />Section 1. Section 2.016 of the Eugene Code, 1971, is amended by adding a new <br />Subsection ~4} thereto, to provide: <br />2.016 Cit Council ~ lnterest in Contract. <br />~ 1 } As used in this section: <br />~a} "direct interest" includes a partnership interest, ownership interest in <br />a closed corporation, ownership of more than 5% of the stock in a publicly held <br />corporation, or an interest that yields an immediate return. from the contract to the <br />councilor; <br />fib} "pecuniary interest" means one that yields a tangible monetary return <br />to the councilor; <br />tc} "personal interest" means a councilor's individual interest; <br />~d} "present interest" means one existing during the councilor's tenure in <br />office. <br />~2} Councilors may not be pecuniarily interested in any contract the expenses of <br />which are to be paid or the proceeds thereof received by the city. <br />~3} A councilor is pecuniarily interested in a contract with the city if the councilor <br />contracts with the city and the contract is one in which the councilor has a direct, present, personal, <br />pecuniary interest, or if a business or contracting organization in which the councilor has a direct, <br />present, personal pecuniary interest contracts with the city. <br />~4} This section applies only to contracts made or amended during a councilor's <br />term of off ce. Nothing in this section, however, shall preclude an amendment during a councilor's <br />term of off ce which does not involve any increase in price. <br />Section 2, The City Recorder, at the request of, or with the concurrence of the City Attorney, <br />is authorized to administratively correct any reference errors contained herein or in other provisions <br />of the Eugene Code,1971, to the provisions added, amended or repealed herein. <br />Passed by the City Council this <br />9th ay of December, 1998 <br />_v <br />City Record r <br />Approved by the Mayor this <br />day of December 1995 <br />Mayan <br />ordinance <br />