A commissioner, officer, or employee of an authority, who has voluntarily acquired any of the following interests, shall disclose to the commissioners of the authority, as soon as the person has knowledge of the interest, the nature and extent of the interest:
Terms Used In Utah Code 35A-8-405
authority: means a public body corporate and politic created by this part. See Utah Code 35A-8-401
Contract: A legal written agreement that becomes binding when signed.
project: means a work or undertaking, on contiguous or noncontiguous sites to:
(i)
demolish, clear, or remove buildings from a blighted area;
(ii)
provide or assist in providing decent, safe, and sanitary urban or rural dwellings, apartments, or other living accommodations for persons of medium and low income by any suitable methods, including rental, sale of individual units in single or multifamily structures under conventional condominium, cooperative sales contract, lease-purchase agreement, loans, or subsidizing of rentals or charges; or
a present or future interest, direct or indirect, in a project;
(b)
a present or future interest, direct or indirect, in a property included in or planned to be included in a project;
(c)
a contract or proposed contract relating to a project; or
(d)
any other transaction or agreement with the authority.
(2)
The commissioners shall enter the particulars of the disclosure into the minutes of the authority.
(3)
After a disclosure of interest, the commissioner, officer, or employee may participate in any discussions concerning proposed authority action on the property, contract, transaction, or agreement in which the person has an interest, but the commissioner, officer, or employee may not vote on any action proposed by the authority regarding that property, contract, transaction, or agreement.
