§ 47. Disqualification of members and employees. No member or employee
of the Utica transit authority should have any interest, financial or
otherwise, direct or indirect, or engage in any business or transaction
or professional activity or incur any obligation of any nature, which is
in substantial conflict with the proper discharge of his duties, in the
public interest. If any member or employee of the Utica transit
authority owns or controls an interest, financial or otherwise, direct
or indirect, in any property included in any project, which was acquired
prior to his appointment or employment, he shall disclose such interest
and the date of acquisition thereof in writing to the Utica transit
authority prior to such appointment and such disclosure shall be entered
upon the minutes of the Utica transit authority.