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Commissioner not to acquire interest voluntarily in clearance project--penalty. <br />99.400. 1. No commissioner or employee of an authority shall voluntarily acquire any interest, <br />direct or indirect, in any land clearance project or in any property included or planned by the <br />authority to be included in any such project, or in any contract or proposed contract in <br />connection with any such project. <br />2. Where the acquisition is not voluntary such commissioner or employee shall immediately <br />disclose such interest in writing to the authority and such disclosure shall be entered upon the <br />minutes of the authority. <br />3. A commissioner or employee who owns or controls any interest, direct or indirect, in such <br />property shall not participate in any action by the authority affecting the property. If any <br />commissioner or employee of an authority owned or controlled within the preceding two years <br />an interest, direct or indirect, in any property included or planned by the authority to be included <br />in any land clearance project, he immediately shall disclose such interest in writing to the <br />authority and such disclosure shall be entered upon the minutes of the authority. Upon such <br />disclosure such commissioner or employee shall not participate in any action by the authority <br />affecting such property. <br />4. Any violation of the provisions of sections 99.330 to 99.410 shall constitute misconduct in <br />office. <br />(L. 1951 p. 300 § 4) <br />Resolution creating authority deemed conclusive, when--filing. <br />99.410. 1. In any suit, action or proceeding involving the validity or enforcement of or relating to <br />any contract of an authority or other public body, such authority or other public body shall be <br />conclusively deemed to have become established and authorized to transact business and <br />exercise its powers hereunder upon proof of the adoption of the appropriate resolution prescribed <br />in subdivision (1) of section 99.330 or subsection 1 of section 99.360 above. Each such <br />resolution shall be deemed sufficient if it authorizes the exercise of powers hereunder by the <br />authority or other public body and finds in substantially the terms provided in subdivision (2) of <br />section 99.330 (no further detail being necessary) that the conditions therein enumerated exist. <br />2. A copy of such resolution duly certified by the municipal or county clerk, as the case may be, <br />shall be admissible in evidence in any suit, action or proceeding. <br />(L. 1951 p. 300 § 4) <br />Powers of authority. <br />99.420. An authority shall constitute a public body corporate and politic, exercising public and <br />essential governmental functions, and having all the powers necessary or convenient to carry out <br /> <br />