2006 New Mexico Statutes - Section 3-46-42 — Interest of public officials; commissioners or employees; misconduct in office.

3-46-42. Interest of public officials; commissioners or employees; misconduct in office.

A.     No public official or employee of a municipality, or board or commission thereof, and no commissioner or employee of an urban renewal agency which has been vested by a municipality with urban renewal or land development project powers under Section 3-46-40 NMSA 1978, shall voluntarily acquire any interest, direct or indirect, in any such project, or any property included or planned to be included in any such project of the municipality or in any contract or proposed contract in connection with the such project. Where the acquisition is not voluntary, the interest acquired shall be immediately disclosed in writing to the local governing body and such disclosure shall be entered upon its minutes. If any such official, commissioner or employee presently owns or controls, or owned or controlled within the preceding two years, any interest, direct or indirect, in any property which he knows is included or planned to be included in an urban renewal or land development project, he shall immediately disclose this fact in writing to the local governing body, and this disclosure shall be entered upon the minutes of the governing body, and any such official, commissioner or employee shall not participate in any action by the municipality, or board or commission thereof, or urban renewal agency affecting such property. Any disclosure required to be made by this section to the local governing body shall concurrently be made to an urban renewal agency which has been vested with urban renewal or land development project powers by the municipality pursuant to the provisions of Section 3-46-40 NMSA 1978.   

B.     No commissioner or board member of an urban renewal agency exercising powers pursuant to the Urban Renewal Law [ 3-46-1 to 3-46-45 NMSA 1978] shall hold any other public office other than his commissionership or board position with respect to such urban renewal agency, board or commission. Any violations of the provisions contained in this section shall constitute misconduct in office.