(20 ILCS 620/10) (from Ch. 67 1/2, par. 1010)
Sec. 10.
Conflicts of interest; disclosure.
If any member of the
corporate authorities of a municipality, or any employee or consultant of the
municipality involved in the planning, analysis, preparation or
administration of an economic development plan or an economic development
project, or any proposed economic development plan or any proposed economic
development project, owns or controls any interest, direct or indirect, in
any property included in any economic development project area or proposed
economic development project area, he or she shall disclose the same in
writing to the municipal clerk, which disclosure shall include the dates,
terms and conditions of any disposition of any such interest. The
disclosures shall be acknowledged by the corporate authorities of the
municipality and entered upon the official records and files of the
corporate authorities. Any such individual holding any such interest shall
refrain from any further official involvement regarding such established or
proposed economic development project area, economic development plan or
economic development project, and shall also refrain from voting on any
matter pertaining to that project, plan or area and from communicating with
any members of the corporate authorities or any employees or consultants of
the municipality regarding any matter relating to that project, plan or
area. No member of the corporate authorities of the municipality
and no employee of the municipality shall
acquire any interest, direct or indirect, in any real or personal property or
rights or interest therein within an economic development project area or a
proposed economic development project area after that person obtains
knowledge of the project, plan or area or after the first public notice of
the project, plan or area is given by the municipality, whichever shall first occur.
(Source: P.A. 86-38.)
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