§ 3-8. Annual disclosures.

(a)

Each elected official shall annually file with the city clerk statements disclosing the following:

(1)

All positions of employment held by an elected official in any business, corporation or agency, whether for-profit or not-for-profit, for all or any portion of the preceding calendar year, including the name of the business, address of said business, a brief description of the type of business and the dates of employment;

(2)

Each and every source of income received by an elected official in the preceding calendar year from any business venture, contract or agreement, if said income exceeds $5,000.00 from any single source. Nothing in this section shall be construed to require reporting of the identity of individual clients, customers or patrons;

(3)

Any benefit, whatever its nature, conferred upon said elected official or member of said official's immediate family either derived from, or related to transactions with the city;

(4)

All real property owned by the elected official or a member of said official's immediate family, if said property is within the city;

(5)

All stocks, blind trusts, bonds, debentures, and other forms of debt obligations of any corporation or any business or entity collectively in excess of $10,000.00 held by the elected official at any time during the preceding calendar year except for mutual funds, personal checking accounts, time deposit accounts, other savings or retirement fund accounts held by any financial institution of the United States government, or any city approved or maintained deferred compensation or pension program.

(b)

The city clerk shall maintain a list of all current elected officials and shall have such disclosure forms delivered to each elected official by first class mail or by hand delivery, no later than January 15 of each year. The city clerk's failure to cause a disclosure form to be delivered to an elected official shall not relieve such official of the obligation to file a disclosure statement. The city clerk shall maintain all completed disclosure forms and said documents to be made available upon request and proper showing of cause.

(c)

Every elected official must file said disclosure statement on or before the close of business on February 15 of each year in which the official holds a position with the city. Such official shall sign such disclosure statement under penalty of perjury.

(d)

Should an elected official fail to file an annual disclosure statement by February 15 without reasonable cause, said official shall be considered delinquent and shall be subject to an administrative sanction of $25.00 per day for each business day beyond February 15 of such delinquency, provided that the maximum penalty for the first offense shall be $500.00.

(e)

Each elected official must file an annual disclosure statement within 45 days after the ordinance adopting this chapter is signed by the governing body.

(Ord. No. 13-2006, § 1, 7-24-06; Ord. No. 12-2007, 8-13-07)