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<br />14¡ty <br />~'.. 0', <br />t ~ <br /> <br />§ 2.75 SAN MARCOS CODE ~ 2.81 -"'" <br /> <br />t' v..-i.th the city. Any person having such an interest shall be ineli. <br />gible for- election as a city council member or appointment as an <br />. . employee of the city, and any city council member or employee <br />.. who acquires such an interest shall forfeit the office or employ. <br />: ment. Any violation of this provision wi th the actual or con$truc- <br />-~ t tive knowledge of the city council member or employee shall render <br />" the contract voidable by the city manager or the city council. <br /> <br />(CJ These provisions shall not apply to acquisition of property <br />by the city as a result of eminent domain proceedings or the <br />threat of eminent domain proceedings. <br /> <br />ld. \Vithin subsections (a) and lb) of this section. a "sale to the <br />city" includes sales to city-sponsored entities and organizations <br />subject to substantial control by the city in one (1) or more of the <br />following respects: <br /> <br />11, Allor a majority of the governing body of the entity or <br />organization is appointed by the city council; . <br /> <br />,2' The ci ty p:~vides more: .th~ one.half of the ope~ating fund.s <br />of the entIty or org-anl:tatlOn;. ' <br /> <br />i3' The city haS appròval authority over purchasing decisions <br />made by the entity or organization; <br /> <br />'-* The city has approval authority over bonds or other indebt- <br />edness issued by the entity or organization; or <br /> <br />I Q' The city has approval aut~ority over the budget of the <br />organization. <br />lOrd. ~o. 1990-62, § 1,8-27-90; Ord. No. 1994-7, § 1, 1.24-941 <br /> <br />Sees. 2-76-2.80. Reserved. <br /> <br />DIVISION 2. FI);A.~ClAL DISCLOSURE <br /> <br />Sec. 2.81. Definitions. d <br /> <br />For the purposes of this division, the following wor~ s:1all have <br />these meanings: <br /> <br />Business entity: A corporation, partnership, sole proprietorship, . <br />finn, holding company, joint stock company, receivership, trust, <br />or any other entity organized for profit. <br /> <br />Supp. ~o. 28 142.10 <br />5.6 <br />