A. No public official or employee of a municipality, or member of any board or commission thereof, and no commissioner or employee of a metropolitan redevelopment agency which has been vested by a municipality with metropolitan redevelopment project powers by the Redevelopment Law [3-60A-5 through 3-60A-13, 3-60A-14 through 3-60A-18 NMSA 1978] shall voluntarily acquire any interest, direct or indirect, in any such project of the municipality or in any contract or proposed contract in connection with such project. Where the acquisition is not voluntary, the interest acquired shall be immediately disclosed in writing to the local governing body and such disclosure shall be entered upon its minutes. If any such official, commissioner or employee currently owns or controls, or owned or controlled within the preceding two years, any interest, direct or indirect, in any property which he knows is included or planned to be included in a metropolitan redevelopment project, he shall immediately disclose this fact in writing to the local governing body, and this disclosure shall be entered upon the minutes of the governing body, and any such official, commissioner or employee shall not participate in any action by the municipality, or board or commission thereof, affecting such property. Any disclosure required to be made by this section to the local governing body shall concurrently be made to a metropolitan redevelopment agency which has been vested with metropolitan redevelopment project powers by the municipality.
History: Laws 1979, ch. 391, § 17.