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MEMORANDUM <br /> LARKIN,HOFFMAN,DALY&LINDGREN,LTD. <br /> • Attorneys at Law <br /> 1500 Norwest Financial Center <br /> 7900 Xerxes Avenue South <br /> Bloomington, Minnesota 55431 <br /> Telephone: (612)835-3800 <br /> FAX: (612)896-3333 <br /> TO: Mayor Henry A. Duitsman <br /> Members of the City Council <br /> Members of the Economic Development Authority <br /> Members of the Housing and Redevelopment Authority <br /> Members of the Planning Commission <br /> Members of the Park and Recreation Commission <br /> Elk River Municipal Utility Commissioners <br /> City of Elk River Department Heads <br /> FROM: Peter Beck, City Attorney <br /> DATE: January 20 , 1995 <br /> RE: City of Elk River Conflict of Interest Policy <br /> Minnesota Open Meeting Law <br /> CONFLICT OF INTEREST <br /> Attached for your review are copies of Section 218 . 08 (9) of the <br /> • Elk River Code of Ordinances and Minnesota Statutes Sections <br /> 471 . 87-471 . 895 . These ordinance and statutory provisions set <br /> forth the conflict of interest standards applicable in the City <br /> of Elk River. <br /> The City of Elk River' s policy is to enforce the state conflict <br /> of interest laws applicable to municipal officials, and to apply <br /> a similar standard to all City of Elk River officials and <br /> employees . Following is a summary of the applicable state laws <br /> and the City' s ordinance. <br /> Contracts <br /> Minnesota Statutes Section 471 . 87 prohibits any public official <br /> who is authorized to take part in the making of a sale, lease, or <br /> contract to voluntarily have a personal financial interest in the <br /> transaction or to personally benefit financially from it. <br /> Violation of this prohibition is a gross misdemeanor. <br /> This statute applies to all kinds of contracts, formal or <br /> informal, for goods, real estate or services, whether the City is <br /> the buyer or seller. This statute applies only to persons <br /> • <br />