BLAIR LEE III, Acting Governor                           157

FINANCIAL INTEREST;

(II)   THE PURCHASE OF GAS, ELECTRICITY, OR OTHER
PUBLIC UTILITY SERVICES FROM A COMPANY IN WHICH THE COUNTY
SUPERINTENDENT HAS A FINANCIAL INTEREST;

(III)     MAKING A CONTRACT AFTER PUBLICLY
ADVERTISED COMPETITIVE BIDDING WITH A FIRM, CORPORATION, OR
ASSOCIATION IN WHICH THE COUNTY SUPERINTENDENT HAS A DIRECT
FINANCIAL INTEREST; OR

(IV)    MAKING A CONTRACT TO COMPOSE THREATENED OR
ACTUAL LITIGATION UNDERTAKEN BETWEEN THE COUNTY BOARD AND
THE COUNTY SUPERINTENDENT.

(C) COUNTY BOARD MEMBERS.

(1)    EXCEPT AS PROVIDED IN THIS SUBSECTION, A
COUNTY BOARD MEMBER MAY NOT HAVE A DIRECT OR INDIRECT
FINANCIAL INTEREST IN ANY CONTRACT OR PURCHASE TO WHICH THE
COUNTY BOARD IN HIS COUNTY IS A PARTY.

(2)    A COUNTY BOARD MEMBER WHO KNOWS OR
REASONABLY MAY BE EXPECTED TO KNOW THAT HE HAS A DIRECT
FINANCIAL INTEREST IN ANY CONTRACT OR PURCHASE IN WHICH THE
COUNTY BOARD IN HIS COUNTY IS OR MAY BE IN ANY WAY
CONCERNED, PROMPTLY SHALL DISCLOSE THIS INTEREST TO THE
COUNTY BOARD.

(3)    IF DISCLOSURE IS MADE AND THE MEMBER WHO
MADE THE DISCLOSURE DISQUALIFIES HIMSELF FROM VOTING OR
ACTING ON THE TRANSACTION ON BEHALF OF THE BOARD, THE
TRANSACTION MAY BE COMPLETED IF IT INVOLVES:

(I)   MAKING A DEPOSIT BY THE COUNTY BOARD IN A
BANK IN WHICH THE COUNTY BOARD MEMBER HAS A DIRECT FINANCIAL
INTEREST;

(II)    THE PURCHASE OF GAS, ELECTRICITY, OR OTHER
PUBLIC UTILITY SERVICES FROM A COMPANY IN WHICH THE COUNTY
BOARD MEMBER HAS A DIRECT FINANCIAL INTEREST;

(III)     MAKING A CONTRACT AFTER PUBLICLY
ADVERTISED COMPETITIVE BIDDING WITH A FIRM, CORPORATION, OR
ASSOCIATION IN WHICH THE COUNTY BOARD MEMBER HAS A DIRECT
FINANCIAL INTEREST; OR

(IV)   MAKING A CONTRACT TO COMPOSE THREATENED OR
ACTUAL LITIGATION UNDERTAKEN BETWEEN THE COUNTY BOARD AND
THE COUNTY BOARD MEMBER OR BETWEEN THE BOARD AND A FIRM,
CORPORATION, OR ASSOCIATION IN WHICH THE MEMBER HAS A DIRECT
FINANCIAL INTEREST.

(4) IF THE ACTION HAS BEEN APPROVED BY THE STATE
SUPERINTENDENT, AND IF, THROUGH DISQUALIFICATIONS, LESS THAN
A QUORUM OF THE COUNTY BOARD IS CAPABLE OF PARTICIPATING IN
ANY CONTRACT OR PURCHASE PERMITTED UNDER THIS SECTION, THE
REMAINING MEMBER OR MEMBERS CONSTITUTE A QUORUM AND MAY