TC Res. No. 1982-06RESOLUTION NO.#82-6
BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
AVON AS FOLLOWS:
Section 1. Application. This Resolution shall be.
applicable to councilmembers, members of all boards and
commissions of the Town, and all employees of the Town,
whether paid at hourly or contract rate.
Section 2. Prohibition of-financial interest or
interest in -profits. (1) No Town official or employee
shall make, participate in making,, or in any way attempt to
use his official position to influence a governmental
decision in which he knows or has reason to know he has a
financial interest. In addition, the reason for,
disqualification or lack of participation shall be disclosed
by the Town-official or employee in writing to such entity
prior to the time the decision is made on the form set forth
in Section 8hereof.
(2)- No Town official or employee without
first complying with the disclosure provisions hereof, shall
be interested, directly or indirectly, in the profits of any
contract or job for work, supplies, or. services to be
performed for, or provided to, the Town of Avon, other than
as provided in the Town's Charter.
Section 3. Decision involving financial
interests. (a) A Town official or employee shall be deemed
to have, a financial interest in a decision within the
meaning of this Resolution if it is reasonably foreseeable
that the decision will have a material-financial effect on:
(1) Any business entity in which the Town
official or employee has a direct or an indirect
investment;
(2) Any real property in which the Town
official or employee-has a direct or an indirect
interest;
(3) Any source of income, including loans by
a commercial lending institution in the regular
course of business, received by or promised to
the Town official or employee, directly or in-
directly,- within twelve months prior to or
subsequent to the time when a ,decision is made; or
(4) Any business entity in which the Town
official or employee or his spouse, dependent
child,. or agent is a shareholder, a director, an
officer, the sole proprietor, a partner,, a trustee
or. an employee or in which he holds any position
of management.
(b) A decision shall not be considered to have a
material financial effect on a Town official or employee
within the meaning of this section if:
(1) The effect on the Town official or
employee is indistinguishable from its effect
on the general public, or a significant segment
thereof, or from its effect on an industry,
profession, or occupation of which the Town of-
ficial or employee is a member;. or,
(2) The assets constituting a financial
interest of the Town official or-employee have
been placed in a trust over which he has no
coritr"ol."
(c) For purposes of this section, "indirect,
investment" - or "indirect interest" means any investment or
interest owned by the spouse or dependent child of the Town
official or employee, by an agent on behalf of the town
official or employee, by any business entity controlled by
the Town official or employee, .or by a trust in which the
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Town official or employee has an interest. A business
entity is controlled by a Town official.'or employee if the
Town official or employee and his. agents, spouse, and
dependent children, in the aggregate, hold more than
twenty-five percent of the ownership interest in the entity.
Section 4. Restriction on acquiring. financial
-interest. No Town official or employee shall acquire a
.financial interest at a time when he believes or has reason
.to believe :that it will, be directly affected by his official
acts or decisions, unless, prior to.such acquisition notice
thereof:-is given in writing to the Town,.substantially in the
form set forth in Section 7 hereof.
Section 5. Misuse of confidential 'information
prohibited. No Town official or employee shall use
confidential information or information which will be made
public but has not been made- so, acquired by virtue of his
public service or employment, for his or another person's
private financial gain.
Section 6. Effect of Disqualification. In the
event a councilmember is disqualified pursuant to' Section 2.
hereof, he shall step down from the council dais and shall
not thereafter participate in discussion on or voting on the
question as to which he has a financial interest; provided,
if his disqualification, alone or with other councilmembers,
causes the absence of a quorum, he may remain on the dais
but shall abstain from voting on the question as to which-he
has a financial interest. Councilmembers may participate in
council study or executive 'sessions- notwithstanding a
financial interest in any question; provided, their
participation shall, be limited to- presentation of
information with.respect to such question.
Section 7. Method of Disclosure. In the- event
disclosure of a financial interest is-required pursuant to
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Section 2 hereof, the same shall be made at least
seventy-two hours in advance of the transaction with
reference to which the Town official or employee is about to
act. In the case of continuing financial interests notice
of such interest may be made annually. The form of such
disclosure shall be as follows (in case of disclosures
pursuant to Section 4 hereof the last sentence shall be
deleted) :
1982.
TO: Town Council
Town of Avon, and
Secretary of State
State of Colorado.
You are hereby notified that the under-
signed possesses a financial interest in:
(insert name of entity)
and that such financial interest may con-
stitute a conflict of interest as to his
exercise of a substantial discretionary
function in connection with a contract,
purchase, payment or other pecuniary
transaction. The date of such transaction
and a description of the nature thereof
follows:
(describe transaction and date of same
or generally state "matters regularly under
consideration by Avon Town Council affecting
(state name of entity)").
Signature
ADOPTED the ~ay of ,
r
14:2 0.
V T
May
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