§ 18-9. Investments in conflict with official duties.

A. 

No municipal officer or employee may acquire the following investments:

(1) 

Investments that can be reasonably expected to require more than sporadic recusal and abstention under § 18-7 of this code; or

(2) 

Investments that would otherwise impair the person's independence of judgment in the exercise or performance of his or her official powers and duties; or

(3) 

Investments from any City of Lockport auction if the employee or officer is in the position to negotiate, prepare, authorize or approve the contract for the sale upon which he or she is bidding.

B. 

This section does not prohibit a municipal officer or employee from acquiring any other investments or the following assets:

(1) 

Real property located within the municipality; or

(2) 

Less than 5% of the stock of a publicly traded corporation; or

(3) 

Bonds or notes issued by the municipality and acquired more than one year after the date on which the bonds or notes were originally issued.