No member or employe of an Authority shall acquire any interest, direct or indirect, in any dwelling or other housing accommodation or in any real estate which he may have reason to believe may be purchased or leased by an Authority, nor shall he have any interest, direct or indirect, in any contract or proposed contract for materials or services to be furnished or used by an Authority. The acquisition of any such interest in any dwelling or housing project or in buildings to be converted into housing projects, or in any such property or contract shall constitute misconduct in office. If any member or employe of an Authority shall already own or control any interest, direct or indirect, in any property later included or planned to be included in any veterans temporary housing project under the jurisdiction of the Authority, or has any such interest in any contract for material or services to be furnished or used in connection with any such project, he shall disclose the same, in writing, to the Authority and to the State Board of Housing and the local governing body, and such disclosure shall be entered, in writing, upon the minute books of the Authority. Failure to make such disclosure shall constitute misconduct in office.