HomeMy WebLinkAboutRes 1990-03RESOLUTION NO. 1990 -3
A RESOLUTION OF THE Town COUNCIL OF THE Town OF = ou:,t�i. ^.
:aricom COUNTY, ARIZONA PRESCRIBING STANDARDS OF FINANCIAL
DISCLOSURE FOR LOCAL ELECTED OFFICIALS.
WHEREAS, pursuant to the provisions of A.R.S. § 38 -545, as amended, the own of
Fountain Hig?equired to adopt standards of financial disclosure consistent with the provisions of
Title 38, Chapter 3.1, Article 1, Arizona Revised Statutes; as amended; and
WHEREAS, the Town Council has determined that the standards of financial disclosure
hereinafter adopted are, with respect to the Town of Fountain Hills . consistent with
such standards of financial disclosure within the meaning of A.R.S § 38 -545.
NOW, THEREFORE, BE IT RESOLVED BY THE To,N COUNCIL OF THE
Ta: -r; OFFOUN-TAIN HILLS , KARICOPA COUNTY, ARIZONA, that the following standards
of financial disclosure for local elected officials are hereby adopted:
Section 1: DEFINITIONS. In this resolution, unless the context otherwise requires:
1. "Business" includes any enterprise, organization, trade, occupation or profession, whether
or not operated as a legal entity or for profit, including any business trust, corporation, partnership,
joint venture or sole proprietorship.
2. "Compensation" means anything of value of advantage, present or prospective, including
the forgiveness of debt.
3. "Controlled business" means any business in which the local public officer or any member
of his household has an ownership or beneficial interest, individually or combined, amounting to
more than a fifty percent interest.
4. "Dependent business" means any business in which the local public officer or any member
of his household has an ownership or beneficial interest, individually or combined, amounting to
more than a fifty percent interest.
5. "Gift" includes any gratuity, special discount, favor, hospitality, service, economic
opportunity, loan or other benefit received without equivalent consideration and not provided to
members of the public at large.
6. "Local public officer" means a person holding an elective office of the Town of
Fountain ?sills
7. "Member of household" means a local public officer's spouse and any minor child of whom
the local public officer has legal custody.
Section 2: DUTY TO FILE FINANCIAL DISCLOSURE STATEMENT; CONTENTS;
EXCEPTIONS.
A. In addition to other statements and reports required by law, every local public officer, as a
matter of public record, shall file with the Town Cleric on a form prescribed by the
Town Clerk a verified financial disclosure statement covering the preceding calendar year
ending December 31. The statement shalt disclose:
1. The name and address of the local public officer and each member of his household
and all names and addresses under which each does.business.
2. The name and address of each employer and of each other source of compensation
other than gifts amounting to more than one thousand dollars received during the preceding
calendar year by the local public officer and members of his household in their own names, or by
any other person for the use or benefit of the local public officer or members of his household, a
description of the services for which the compensation was received and the nature of the
employers business. This paragraph shall not be construed to require the disclosure of individual
Items of compensation that constituted a portion of the gross income of the business from which
the local public officer or members of his household derived compensation.
3. For a controlled business, a description of the goods or services provided by the
business, and if any single source of compensation to the business during the preceding calendar
year amounts to more than ten thousand dollars and is more than twenty -five percent of the gross
Income of the business, the disclosure shall also include a description of the goods or services
provided to the source of compensation. For a dependent business the statement shall disclose a
description of the goods or services provided by the business and a description of the goods or
services provided to the source of compensation from which the dependent business derived the
amount of gross income described in Section 1, paragraph 4. R the source of compensation for a
controlled or dependent business Is a business, the statement shall disclose a description of the
business activities engaged in by the source of compensation.
4. The names and addresses of all businesses and trusts in which the local public officer
of members of his household, or any other person for the use or benefit of the local public officer
or members of his household, had an ownership or beneficial interest of over one thousand dollars
at any time during the preceding calendar year, and the name and addresses of all businesses
and trusts in which the local public officer or any member of his household held any office or had
a fiduciary relationship at any time during the preceding calendar year, together with the amount or
value of the interest and a description of the interest, office or relationship.
5. All real property interests and real property improvements, including specific location and
approximate size, located in the Town of Fountain Hills . in which the local public
officer, any member of his household or a controlled or dependent business held legal title or a
beneficial interest at any time during the preceding calendar year, and the value of any such
interest, except that this paragraph does not apply to a real property Interest and improvements
thereon used as the primary personal residence or for the personal recreational use of the local
public officer. if a local public officer, any member of his household or a controlled or dependent
busineb -s acquired or divested any such interest during the preceding calendar year, he shall also
disclose that the transaction was made and the date it occurred. If the controlled or dependent
business is In the business of dealing in real property interests or improvements, disclosure need
not include individual parcels or transactions as long as the aggregate value of all parcels of such
property is reported.
S. The names and addresses of all creditors to whom the local public officer or members
of his household, in their own names or in the name of any other person, owed a debt of more
than one thousand dollars or to whom a controlled business or dependent business owed a debt of
more than ten thousand dollars which was also more than thirty percent of the total business
Indebtedness at any time during the preceding calendar year, listing each such creditor. This
paragraph shall not be construed to require the disclosure of debts owed by the local public officer
or any member of his household resulting from the ordinary conduct of a business other than a
controlled or dependent business. Nor shall disclosure be required of credit card transactions,
retail installment contracts, debts on residences or recreational property exempt from disclosure
under paragraph 5 of this subsection, debts on motor vehicles not used for commercial purposes,
debts secured by cash values on life insurance or debts owed to relatives. It is sufficient
disclosure of a creditor if the name and address or a person to whom payments are made Is
disclosed. If the local public officer, and any member of his household or a controlled or
dependent business incurred or discharged a debt which is reportable under this subsection during
the preceding calendar year, the report shall disclose that the transaction was made and the date
It occurred.
7. The identification and amount of each debt exceeding one thousand dollars owed at any
time during the preceding calendar year to the local public officer and member of his household in
their own names, or to any other person for the use or benefit of the local public officer or any
member of his household. The disclosure shall include the identification and amount of each debt
exceeding ten thousand dollars to a controlled business or dependent business which was also
more than thirty percent of the total indebtedness to the business at any time during the preceding
calendar year. This paragraph shall not be construed to require the disclosure of debts from the
ordinary conduct of a business other than a controlled or dependent business. If the local public
officer, any member of his household or a controlled or dependent business incurred or discharged
a debt which is reportable under this subsection during the preceding year, the report shall disclose
that the transaction was made and the date it occurred.
S. The name of each source of any gift, or accumulated gifts from a single source, of
more than five hundred dollars received by the local public officer and members of his household
In their own names during the preceding calendar year, or by any other person for the use or
benefit of the local public officer or any member of his household except gifts received by will or
by virtue of intestate succession, or received by way of distribution from any intervivos or
testamentary trust established by a spouse or by an ancestor, of gifts received from any other
member of the household or relatives to the second degree of consanguinity. Political campaign
contributions shall not be construed as gifts if otherwise publicly reported as political campaign
contributions as required by law.
9. A list of all business licenses issued, by the Town of Fountain Hills-., or by
any other governmental agency which requires for its issuance the consideration of the application
for such license by the own council of the Town Of Fountain Hills , to,
held by or in which the local public officer or any member of his household had an interest at any
time during the preceding calendar year, including the name in which the license was issued, the
type of business and Its location.
10. A list of all bonds, together with their value, issued by the Town of
Fountain Hills , any industrial development authority of the city or town or any nonprofit
corporation organized or authorized by the city or town held at any time during the preceding
calendar year by the local public officer or any member of his household, which bonds issued by a
single entity had a value in excess of one thousand dollars. If the local public officer or any
member of his household acquired or divested any bonds during the preceding calendar year
which are reportable under this paragraph, the fact that the transaction occurred and the date shall
also be shown.
B. If an amount or value is required to be reported pursuant to this section, it is sufficient to
report whether the amount or value of the equity interest falls within:
1. Category 1, one thousand dollars to twenty-five thousand dollars.
2. Category 2, more than twenty-five thousand dollars to one hundred thousand dollars.
3. Category 3, more than one hundred thousand dollars.
C. This section does not require the disclosure of any information that is privileged by law.
D. The statement required to be filed pursuant to subsection A shall be filed by all persons
who qualified as local public officers at any time during the preceding calendar year on or before
January 31 of each year, with the exceptions that a local public officer appointed to fill a vacancy
shall, within sixty days following his taking of such office, file a financial disclosure statement
covering as his annual period the twelve month period ending with the last full month prior to the
date of his taking office.
E. The Town Clerk shall prepare written guidelines, forms and samples for completing
the financial disclosure statement required by this section. A copy of the guidelines, forms and
samples shall be distributed to each local public officer and shall be made available to each
candidate required to file a financial disclosure statement pursuant to Section 3 of this resolution.
Section 3: DUTY TO FILE FINANCIAL DISCLOSURE STATEMENT BY CANDIDATE FOR
LOCAL PUBLIC OFFICE. A candidate for local public office as specified In Section 1, paragraph
6, shall file a financial disclosure statement covering the preceding twelve month period and
containing the information described in Section 2 on a form prescribed by the Town Clerk at
the time of filing nomination papers.
Section 4: This resolution shall become effective on the 16th day of January , 19,2.
PASSED AND ADOPTED by the Town Council of the Town of
Fountain Hills , Maricopa County. Arizona, this ibth day of ,Tanuan• , 1990.
APPROVED:
2
Mayor
ATTEST:
Clty/Town Clerk