Illinois Statutes Chapter 65. Municipalities § 5/8-10-17. Revolving fund; pecuniary interest in contracts; penalty

§ 8-10-17. The corporate authorities of any such municipality may establish a revolving fund in such amount as may be necessary to enable the purchasing agent to purchase items of common usage in advance of immediate need, the revolving fund to be reimbursed from the annual appropriation of the requisitioning agencies. Neither the purchasing agent, nor any officer or employee of his office, nor any member of the board of standardization hereinafter provided for, shall be financially interested, directly or indirectly, in any purchase order or contract coming under the purview of his official duties. The above named officials and employees are expressly prohibited from accepting, directly or indirectly, from any person, company, firm, or corporation to which any purchase order or contract may be awarded, any rebate, gift, money, or anything of value whatsoever. Any officer or employee, as above defined, convicted of violating this Section shall be guilty of a business offense and shall be fined not to exceed $10,000 and shall forfeit the right to his public office, trust, or employment and shall be removed therefrom.