If any officer, commissioner or employee of the agency is interested either directly
or indirectly in any contract with the agency, such interest shall be disclosed to
the agency and shall be set forth in the minutes of the agency, and the officer, commissioner,
employee or member having such interest shall not participate on behalf of the agency
in the authorization of the project. This section does not apply to the ownership of less than one percent (1%) of the
stock of any operator or obligor. Failure to take any or all actions necessary to carry out the purposes of this section
does not affect the validity of bonds issued pursuant to the provisions of this Article.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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