Except as permitted under applicable law, no member of the Board of Trustees, nor any officer appointed by the Board, may be in any manner interested, either directly or indirectly, in his own name or in the name of any other person, association, trust or corporation, in any contract with the Board of Trustees, or in the performance of any work on its behalf, where such person may be called upon to act or vote in the making of such contract or the letter of such work. No such person may represent, either as agent or otherwise, any person, association, trust, or corporation, with respect to any application or bid for any contract or work in regard to which such person may be called upon to act or vote. No such person may receive, either directly or indirectly, any money or other thing of value, a gift or bribe or means of influencing his vote or action in his official character.

All members of the Board of Trustees shall adhere to the conditions set forth in IL. Rev. Stat., Ch. 122, Section 103-48.