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<br />two thousand five hundred dollars ($2,500.00).
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<br />(4) Ownership of a whole life insurance policy.
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<br />(b) Addressing conflicts of interest. To address conflicts of interest:
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<br />(1) A local official or employee shall not participate in making or attempt to use his or
<br />her position to influence any city governmental decision, action, or transaction in
<br />which the local official or employee knows or has reason to know that he or she
<br />has a conflict of interest. To participate or participation means making the
<br />decision, taking action, entering into a transaction, providing advice or a
<br />recommendation, introducing, sponsoring, debating, voting on, approving, and
<br />investigating the decision, action, or transaction. Participation includes the direct
<br />and active supervision of the participation of a subordinate in the matter.
<br />Participation is more than official responsibility, knowledge, perfunctory
<br />involvement, or involvement on an administrative or peripheral basis.
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<br />(2) A local official or employee may participate in a city governmental decision,
<br />action, or transaction involving an organization or entity when the local official or
<br />employee, or his or her spouse, domestic partner, or dependent is an officer,
<br />director, board member, or trustee, if the local official or employee does not have
<br />a financial interest in the governmental decision, action, or transaction. However,
<br />the local official or employee must disclose his or her affiliation with the
<br />organization or entity as though it were a conflict of interest.
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<br />(3) A local official or employee may participate in a city governmental decision
<br />involving a related person, other than his or her spouse, domestic partner, or
<br />dependent, if the local official or employee does not have a financial interest in
<br />the governmental decision, action, or transaction. However, the local official or
<br />employee must disclose his or her relationship with the related person as though
<br />it were a conflict of interest.
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<br />(4) Any lobbyist (other than an employee of the city) who is lobbying on behalf of the
<br />city must disclose a complete list of his or her principals, the principal's clients,
<br />and the project or projects on which he or she is working on a principal's behalf,
<br />to all elected officials of the city and the city clerk. The ethics officer will report to
<br />the intergovernmental relations committee on what projects, if any, create, or
<br />may. create a professional conflict of interest for the lobbyist. A professional
<br />conflict of interest is a situation where the interests of a principal of the lobbyist
<br />are or may be adverse to the interests of the city. The lobbyist must update the
<br />list any time there is a change in his or her list.
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<br />(c) Disclosure of conflicts of interest. If a local official or employee, in the discharge of his or
<br />her official duties, recognizes that his or her participation would create a conflict of
<br />interest, the local official or employee shall disclose the conflict of interest as follows:
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<br />(1) The mayor and members of the city council shall disclose the conflict of interest
<br />to each other as soon as they become aware of the conflict. If such official
<br />becomes aware of a conflict during a meeting of the city council, or one (1) of its
<br />committees, or the executive committee, the official shall immediately disclose
<br />the conflict of interest orally. The mayor or city council member shall also
<br />prepare, on a form prescribed by the city clerk, a written statement describing the
<br />matter requiring action or decision and the nature of his or her conflict of interest.
<br />The written statement shall be distributed to the mayor and the members of the
<br />city council and filed with the city clerk. After the first time the official has orally
<br />disclosed a conflict of interest and filed the form, the elected official may
<br />subsequently orally disclose a conflict by referring to the form. Because the
<br />mayor or city council members may not attend all city councilor committee
<br />meetings, oral disclosure may consist of the written statement being read into the
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