Common use of No Financial Interest Clause in Contracts

No Financial Interest. No covered persons who exercise, or have exercised, any functions or responsibilities, with respect to CDBG-assisted activities, or who are in a position to participate in a decision-making process or gain inside information with regard to such activities, may obtain a financial interest in any contract, or have a financial interest in any contract, subcontract, or Agreement with respect to the CDBG-funded activity, or with respect to the proceeds from the CDBG-assisted activity, either for themselves or those with whom they have business or immediate or immediate family ties, during their tenure or for a period of one (1) year thereafter. For purposes of this paragraph, a “covered person” includes any person who is an employee, agent, consultant, officer, or elected or appointed official of the City, Subrecipient, or any designated public agency.

No Financial Interest. No covered persons who exercise, exercise or have exercised, exercised any functions or responsibilities, responsibilities with respect to CDBG-assisted activities, or who are in a position to participate in a decision-making process or gain inside information with regard to such activities, may obtain a financial interest in any contract, or have a financial interest in any contract, subcontract, or Agreement agreement with respect to the CDBG-funded activity, or with respect to the proceeds from the CDBG-assisted activity, either for themselves or those with whom they have business or immediate or immediate family ties, during their tenure or for a period of one (1) year thereafter. For purposes of this paragraph, a “covered person” includes any person who is an employee, agent, consultant, officer, or elected or appointed official of the City, the Subrecipient, or any designated public agency.