§ 2-328. Prohibited contracts.

The city shall not enter into any contract involving services or property with a member of the city council or employee with a business in which a member of the city council or employee has an interest. This section shall not apply in the case of:

(1)

The designation of a bank or trust company as a depository for city funds;

(2)

The borrowing of funds from any bank or lending institution which offers the lowest available rate of interest in the community for such loan;

(3)

Contracts entered into in accordance with O.C.G.A. § 16-10-6;

(4)

Contracts entered into under circumstances that constitute an emergency situation, provided that the mayor prepares a written record explaining the emergency;

(5)

Contracts entered into with a member of the city council, or employee with a business in which a member of the city council or employee has an interest, provided that such contract is the result of a competitive bid, disclosure of the nature of such member's or employee's interest is made prior to the time any bid is submitted, and a waiver of the prohibition contemplated by this section is issued by the city manager following disclosure.

(Ord. of 9-9-2010, § 6)