Sec. 2-692. - Contents of financial statement.
(a) Except as provided hereinbelow, the financial statement required by section 2-691 hereinabove shall be filed on a form prescribed by the city attorney and shall include the following information for the preceding calendar year. For elected officials only, alternatively the requirement for filing the financial statement required by section 2-691 hereinabove may be satisfied by filing a duplicate original of the financial disclosure statement required to be filed with the state board of ethics, pursuant to R.S. 42:1124.2 et seq.
(1) The full name and residence address of the individual who is required to file;
(2) The full name of the individual's spouse, if any, and the spouse's occupation and principal business address;
(3) The name, address and nature of association with and the amount of interest in each business in which the individual or spouse is a director, officer, owner, partner, member, or trustee, or in which the individual or spouse, either individually or collectively, holds an interest worth in excess of ten percent; a brief description of the nature and purpose of the business; and a brief description of any activities in which the business was engaged during the preceding year;
(4) The name, address, type and amount of each source of income, in excess of $1,000.00, received by the individual or spouse, and the nature of the services rendered therefor, if any. For income derived from mental health, medical health, or legal services rendered, the individual need only show the amount of the income and not the identity of any individual patient or client;
(5) A brief description, location and address of each parcel of real property, the fair market value of which exceeds $2,000.00, in which the individual or spouse, either individually or collectively, has an interest;
(6) A brief description, amount, and date of any purchase, sale, exchange, donation, gift, or other acquisition or disposition, in excess of $1,000.00 of any real property, and of any stocks, bonds, commodities futures, or other forms of securities, including, but not limited to, any option to acquire and/or dispose of any stocks, bonds, commodities futures, other forms of securities, negotiable instruments, movable or immovable property, or any other interest;
(7) The name, adder/ss, and amount of each liability owed to any creditor by the individual or spouse which exceeds $10,000.00, excluding any loan secured by a personal motor vehicle, household furniture, or appliances, if such loans do not exceed the purchase price of the item which secures it.
(b) When an amount is required to be disclosed pursuant to this article, it shall be sufficient to report the amount by category of value. The categories shall be:
(1) Category I, less than $5,000.00 (including no revenue and losses);
(2) Category II, $5,000.00—$24,999.00;
(3) Category III, $25,000.00—$49,999.00;
(4) Category IV, $50,000.00—$99,999.00;
(5) Category V, $100,000.00—$199,999.00;
(6) Category VI, $200,000.00 or more.
Amounts required to be disclosed shall be valued at actual or fair market value, whichever is greater.
(c) For purposes of this article, the following words shall have the following meanings:
Business means any corporation, partnership, sole proprietorship, firm, enterprise, franchise, association, business, organization, self-employed individual, holding company, trust, or any other legal entity or person. The term shall include both non-profit and for-profit entities.
Income means any income from whatever source derived, including, but not limited to, the following items: Compensation for services, including fees, salaries, commissions, and similar items; income derived from business; gains derived from dealings in property; interest; rents; royalties; dividends; annuities; income from life insurance and endowment contracts; pensions; income from discharge of indebtedness; distributive share of partnership income; and income from interest in an estate or trust.
(d) The financial statement shall be filed with the city attorney and shall be accompanied by the affidavit of the public official filing it certifying that the information contained in the financial statement is true and correct to the best of his knowledge, information and belief. The financial statement shall be a public record, subject to the provisions of R.S. 44:1 through 44:41. The city attorney shall additionally file a copy of his financial statement with the clerk of council who shall preserve the city attorney's financial statement as a public record.
(e) For the purposes of this section, an individual or spouse shall not transfer any asset, interest, or liability required to be disclosed pursuant to the subsection (a) of this section to any person or business for the purpose of avoiding disclosure, unless such transfer is irrevocable. A transfer shall not be irrevocable if there exists any contract, letter, counter letter, note, or any other legally enforceable agreement or authority which if exercised or enforced would require or authorize any asset, interest, or liability transferred by an individual or spouse to a person or business to revert back to such individual or spouse.
(Code 1956, § 2-76; M.C.S., Ord. No. 23544, § 1, 5-7-09; M.C.S., Ord. No. 29784, § 1, 1-18-24)
