2006 New Mexico Statutes - Section 3-45-6 — Interested officers or employees.

3-45-6. Interested officers or employees.

No officer of a city, or employee of its authority, shall acquire any interest direct or indirect in any housing project or in any property included or planned to be included in any housing project of the city, nor shall he have any interest direct or indirect in any contract or proposed contract for materials or services to be furnished or used in connection with any such housing project. If any officer of a city, or employee of its authority, owns or controls an interest direct or indirect in any property included or planned to be included in any housing project of such a city, he immediately shall disclose the same in writing to the governing body of such city, and such disclosure shall be entered upon the minutes of the governing body. The failure so to disclose such interest shall constitute misconduct in office. Upon such disclosure such officer or employee shall not participate in any action by the city affecting such property.