A. Prior to official action, a borough official shall file a statement with the borough clerk (or borough manager if the official is the clerk) regarding business dealings or proposed business dealings between the official and the borough at least 30 days prior to the official action. The statement shall set forth the nature of such business dealings and the borough official’s interest therein. This statement is only required when the person receives a substantial financial interest. If all other provisions of this chapter are complied with, the statement shall be sufficient for continuing transactions of a similar or like nature for one year from the date of its filing. However, if an official has violated any of the provisions of this chapter, the official shall be precluded from engaging in business with the borough on that particular matter for one year.

B. Officials with business dealings or proposed business dealings with the borough shall file the statement described above within 30 days of taking office or upon subsequently such interest. (Ord. 17-10-481 § 4)