HomeMy WebLinkAboutORDINANCE - 163 - 3/13/1961 - POLICE PENSION FUND/POLICE PENSION BOARDORDINANCE NO. 163
AN ORDINANCE FOR THE ESTABLISHMENT OF
A POLICE PENSION FUND AND POLICE PEN—
SION BOARD OF TRUSTEES
WHEREAS, the Bureau of Census of the United States of America has
conducted a census of the Village of Elk Grove Village, Cook County, Illinois,
and has determined and certified to the Governor of the State of Illinois
said census, and
WHEREAS, the Bureau of Census has determined the Village of Elk
Grove Village as having a population of 6,608, and
WHEREAS, the laws of the State of Illinois require the establish—
ment of a Police Pension Fund and Police Pension Board of Trustees to ad—
minister said fund when the population of a village exceeds 5,009 persons, and
WHEREAS, the Village of Elk Grove Village deems it to be to the
best interest ofthe Village of Elk Grove Village that a Police Pension Fund
and Police Pension Board of Trustees to administer said fund be established
in accordance with Chapter 24, Seotion 892 of the Illinois Revised Statutes,
NOWO THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of Elk Grove Village, Cook County, Illinois:
Section 1. That there shall be a Police Pension Fund established
by the Vi agl ge of Elk Grove Village in accordance with the provisions of
Chapter 24, Section 892 of the Illinois Revised Statutes.
Section 2. That the Board of Trustees of said Fund shall be
designatedash Board of Trustees of the Village of Elk Grove Village
Police Pension Fund and shall consist of five (5) members, two (2) of which
shall be appointed by the Village President with the confirmation of the Board
of Trustees of the Village of Elk Grove Village, two (2) shall be elected from
the members of the Police Department by the members of the Police Depart—
ment of the Village of Elk Grove Village, and one (1) shall be elected by
the beneficiaries cf the Police Pension Fund; that the appointment and
election of said Trustees shall be in accordance with Chapter 24, Section 893
of the Illinois Revised Statutes.
Section 3. That the powers and duties of said Board of Trustees
of the Village of Elk Grove Village Police Pension Fund shall be those pre—
scribed by the Statutes of the State of Illinois.
Section 4. That the Village Treasurer of the Village of Elk Grove
Village shall set up a special and separate fund and account for the deposit
of all funds to be paid in said Police Pension Fund, which fund and account
shall be under the exclusive control of said Board of Trustees of the Village
of Elk Grove Village Police Pension Fund.
Section 5. That the Board of Trustees of the Village of Elk Grove
Village Police ens on Fund shall issue to the President and Board of Trus—
tees of the Village of Elk Grove Village their recommendation as to the
amount of money which they deem necessary to discharge theVillage's obliga—
tion under the Statutes; said recommendation shall be made within such period
as may be hereafter prescribed by the President and Buard of Trustees of the
Village of Elk Grove Village so as to enable them to appropriate and levy
taxes sufficient to discharge the Villages obligations under the Statutes
of the State of Illinois.
Section 6. That this ordinance shall be in full force and effect
upon its passage and approval according to law.
PASSED this 13th day of Narch, 1961.
APPROVED this 13th day of March, 1961.
Attest: Char3e sA. odlmair
Pres ident
Dolores L. Oberg, Village Clerk
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