No employee shall have any interest, direct or indirect, in any property included or planned to be included in any project of the LCHA, nor shall he knowingly have any interest, direct or indirect, in any contract or proposed contract for materials or services to be used by the LCHA. Failure to disclose such interest shall constitute misconduct in office and be grounds for disciplinary action, up to and including discharge. Any such undisclosed profit, which results in any employee, shall make the employee liable to surcharge in favor of the Authority to the full amount of such profit.
If such interest was acquired prior to his employment, or if his knowledge of such interest is subsequent to his employment, he shall disclose the same in writing to the Executive Director. The prohibition of this paragraph shall be interpreted with emphasis on the proposition that an employee shall not benefit financially by reason of the activities of the LCHA with outside parties. Where doubt exists, legally or ethically, the employee shall take the initiative of calling the matter to the attention of the Executive Director for ruling and guidance.
No employee, officer or agent of the Authority shall participate in the selection, or in the award or administration of a contract supported by Federal funds if a conflict of interest, real or apparent, would be involved. Such a conflict would arise when the employee, officer or agent, any member of his immediate family, his or her partner, or an organization which employs, or is about to employ any of the above, has a financial or other interest in the firm selected for award.
The LCHA's officers, employees or agents will neither solicit nor accept gratuities, favors or anything of monetary value from contractors, potential contractors, or parties to sub-agreements.