No officer or employee of the City shall be beneficially interested, directly or indirectly, in any contract, sale, lease or purchase with, or for use of, the City, or accept directly or indirectly any compensation, gratuity or reward from any other person beneficially interested therein. Violation of any provision of this section shall work a forfeiture of the office or position of the person violating the same and the contract, sale, lease, or purchase shall be void. [Ord. 1306 § 67, 1968; Code 1970 § 2.42.530.]