The Police Pension Fund shall operate under the provisions of the Illinois Revised Statutes. (1968 Code, §5.013)
There is hereby levied upon all property subject to taxation within the Village a special tax at a rate on the dollar which will produce an amount which, when added to the deductions from salaries or wages of police officers, and receipts available from all other sources referred to in the Illinois Pension Code, will equal a sum sufficient to meet the annual requirements of the Police Pension Fund of the Village, pursuant to the provisions of sections 3-125 and 3-127 of the Illinois Pension Code. 1 The annual requirements to be provided by such tax levy shall be equal to the reserve prescribed by said Illinois Pension Code. (Res. 75-34R, 7-1-75)
Notes
| 1 | 1. S.H.A. ch. 1081/2, §§3-125, 3-127. |