Sec. 2-49. - Property disclosure.

The mayor and every member of the town council of the Town of Chapel Hill shall disclose any legal, equitable, beneficial or contractual interest he/she may have in any real property within the Town of Chapel Hill, the town's extraterritorial planning jurisdiction and the Town of Chapel Hill transition area, as established in the Orange County/Carrboro/Chapel Hill Joint Planning Agreement, adopted pursuant to Chapter 233, 1987 Session Laws. The real property which must be disclosed includes all real property which the mayor or any member or his/her spouse or registered domestic partner as defined in Chapter l of the Town Code, if any, holds title to, individually or jointly, any real property held in trust as well as any pecuniary interest he/she may have in any business, firm or corporation of whatever nature, which holds title to or has any ownership interest in any real property within the Town of Chapel Hill, the town's extraterritorial planning jurisdiction and the Town of Chapel Hill transition area, as established in the Orange County/Carrboro/Chapel Hill Joint Planning Agreement, adopted pursuant to Chapter 233, 1987 Session Laws. Such disclosure shall contain the general location of the real property, but need not include its value.

(Ord. No. 89-11-13/O-4; Ord. No. 95-4-24/O-8e, § 1)

Sec. 2-50. - Disclosure of business interests.

The mayor and every member of the town council of the Town of Chapel Hill shall disclose any legal, equitable, beneficial or contractual interest he/she may have in or with any business, firm, or corporation, of whatever nature, which is doing business with the Town of Chapel Hill pursuant to contracts which have been awarded by the Town of Chapel Hill.

The mayor and every member of the town council of the Town of Chapel Hill shall disclose any legal, equitable, beneficial or contractual interest he/she may have in any business, firm, or corporation, of whatever nature, which is attempting to secure the award of a bid from the Town of Chapel Hill or the approval of any board or agency of the Town of Chapel Hill.

An interest of less than ten (10) per cent of the stock of a corporation or less than ten (10) per cent ownership in any other business entity shall not constitute an interest requiring disclosure.

(Ord. No. 89-11-13/O-4)

Sec. 2-51. - Reporting required.

The disclosures required by this article shall be in writing and filed with the Chapel Hill Town Clerk.

The written disclosures required by this article shall be made within the following time periods which are applicable:

(1)

The later of thirty (30) days after the effective date of this title or thirty (30) days the elected official has assumed office:

(2)

The earlier of thirty (30) days of the acquisition of any legal, equitable, beneficial or contractual interest in the property or business, firm, or corporation required to be disclosed in sections 2-49 and 2-50 hereinabove or prior to the award by the town of a contract with or a permit or other approval to a business, firm, or corporation required to be disclosed in section 2-50 hereinabove.

(Ord. No. 8911-13/O-4)

Sec. 2-52. - Disqualification from voting.

Subject to the limitations contained in this section, if the mayor or any council member has an interest required to be disclosed by this title he/she shall disqualify himself/herself from voting on any matter involving any such interest which comes for official action before the town council of the Town of Chapel Hill. The following interests do not require disqualification:

(1)

Interest in real property which must be disclosed in section 2-49 hereinabove, provided the issue before the town council is one of policy that affects the real property disclosed no differently than all other property similarly situated.

(2)

An interest in business, firm, or corporation which is negligible from the point of view of the operation of the business, firm, or corporation.

(Ord. No. 89-11-13/O-4)

Secs. 2-53—2-70. - Reserved.