[1960 Code, Sec. 1.26.010]
There is hereby created the "board of trustees of the firemen's
pension fund of the City of Lincoln, Illinois", which said board shall
consist of the City Treasurer, the City Clerk, the chief of the fire
department and the Mayor, together with three other persons who shall
be chosen from the active firemen of the City and one other person
who shall be chosen from the firemen thereof who have been duly retired
under the provisions of the Illinois municipal code.
[1960 Code, Sec. 1.26.020]
The members of the board to be chosen from the active and retired
firemen of the City shall be elected by ballot at elections to be
held on the third Monday in April as provided by statute.[1] Said board shall elect from its number a president and
secretary, and the City Treasurer shall be ex officio treasurer of
the board, and shall give bond to the City in a sum double the probable
monies to be received by him on account thereof during the current
year, with sureties to be approved by the Council, conditioned that
he will faithfully perform the duties of his office and will account
for said monies as is provided by law.
[1]
See 40 ILCS 5/4-121.
[1960 Code, Sec. 1.26.030]
All monies received from corporations, companies and associations
not incorporated under the laws of this state, which are or which
may be engaged in insurance against fire within the City shall be,
and the same hereby are set apart and appropriated to said pension
fund; and the City Treasurer, upon receipt of any such monies, is
hereby directed to pay over the same to the treasurer of said board
of trustees of the firemen's pension fund of the City.
[1960 Code, Sec. 1.26.040]
The board shall have exclusive control of the fund mentioned in Section 2-8-1 of this chapter and shall manage and control and disburse the same as provided by statute.
