§ 40-13-05 — Officers not to be interested in contracts or work of municipality - Exception

Exception.
Except as otherwise provided by law, no municipal officer, in a municipality having a
population of ten thousand or more according to the last federal decennial census, shall be
directly or indirectly interested in:
1. Any contract, work, or business of the municipality;
2. The sale of any article the expense, price, or consideration of which is paid from the
municipal treasury or by any assessment levied by any act or ordinance; or
3. The purchase of any real estate or other property belonging to the municipality or
which shall be sold for taxes or assessments or by virtue of any process issued in any
suit brought by the municipality.

Provided, however, that the foregoing shall not be applicable if unanimously approved by the
other members of the governing body of the political subdivision by a finding unanimously
adopted by such other members and entered in the official minutes of the governing body, to be
necessary for the reason that the services or property obtained are not otherwise available at
equal cost.