HomeMy WebLinkAboutORDINANCE - 421 - 1/18/1966 - FIREMENS PENSION BOARDORDINANCE NO.�l !/
AN ORDINANCE ESTABLISHING THE BOARD OF
TRUSTEES OF THE FIREMEN'S PENSION FUND
WHEREAS, the Village of Elk Grove Village has established
a regular Fire Department; and
WHEREAS, pursuant to said establishment, the Board of Fire
and Police Commissioners have hired firemen for the Village of
Elk Grove Village; and
WHEREAS, State law requires the establishment of a Firemen's
Pension Fund in such event;
NOW, THEREFORE, BE IT ORDAINED by the President and Board
of Trustees of the Village of Elk Grove Village, Counties of
Cook and DuPage, Illinois:
Section 1. That Chapter 7 of the Municipal Code of Elk
Grove7111-age-'Ue and is hereby amended by adding thereto the
following:
"Article RI -Board of Trustees of the Firemen's
Pension Fund.
Section 7.1101 There is hereby established a Board
of Trustees o q . ir,em%rnts. Pension Fund which shall
consist of the 1Mii(g4'We9burer, the.Village Clerk, the
Chief of the Fire Department, the Village Attorney, three
members of the regular fire department selected as
provided for by statute, and one recipient, if any there
be, the same to be selected, as provided by law. Said
Board shall appoint a president and secretary, establish
rules and regulations, and meet at regular intervals.
They shall have terms as provided for by law.
Section 7.1102 Duties. The Board of Trustees of
the Firemen's rension Fund shall control and manage all
funds belonging to or designated by law, as part of the
Firemen's Pension Fund, and shall administer such funds
and invest.same as,provided for by statute. The custodian
of said funds shall be the Village Treasurer who shall be
required to furnish bond as required by said Board and
State statutes made and provided.
Section 7.1103 On or before lst of each
year saia-Mar— d oorustees shall make a budgetary recom-
mendation to the President and Board of Trustees of the
Village as to the necessary appropriation and levy to be
made in the succeeding fiscal year so that the village may
fulfill its statutory commitment to the Firemen's Pension
Fund. Said recommendation shall be made only after
consulting with such citizen's advisory committees as may
be provided for and shall be -made on aotuarially sound
principles and as provided for by law,"
Section 2. This ordinance shall be in full force and
effec r� o -m -1 -n -a after its passage and approval according to
law.
PASSED this day f
�- day of ,ou-�-�� , 1966.
APPROVED this Lday of 2. _ , 1966.
residen
Attest;
VillageL;16rlf