Prohibited Business and Pecuniary Interest

     It shall be unlawful for any local government official or employes, directly or indirectly, to:

1. Engage in any business transaction with the local government unit in which he is an official, over which he has the power of supervision, or with any of its authorized boards, officials, agents, or attorneys, whereby money is to be paid, or property or any other thing of value is to be transferred, directly or indirectly, out of the resources of the local government unit to such person or firm;

2. Hold such interests in any cockpit or other games licensed by a local government unit;

3. Purchase any real estate or other property forfeited in favor of such local government unit for unpaid taxes or assessment, or by virtue of a legal process at the instance of the said local government unit;

4. Be a surety for any person contracting or doing business with the local government unit for which as surety is required; and

5. Possess or use any public property of the local government unit for private purposes.