(A) President. The President of the Foreign Fire Insurance Board shall preside at all meetings of the officers. The President shall have other powers as he or she may be given from time to time by action of the Council, consistent with the Illinois Municipal Code.
(B) Secretary. The Secretary of the Board shall take minutes at any and all meetings of the officers. The Secretary shall keep these minutes in a manner identical to the manner in which Council minutes are kept. The Secretary shall also perform any other duties and functions as are assigned from time to time by the President or Council.
(C) Treasurer. The Treasurer shall:
(1) Have charge and custody of and be responsible for all funds collected by the city as foreign fire insurance company fees, as described in ILCS Ch. 65, Act 5, § 11-10-7, as amended;
(2) Deposit all monies in the name of the City Fire Department in banks, savings and loan associations or other depositories as shall be selected by Council;
(3) Invest funds as are not immediately required in securities as the City Treasurer shall specifically or generally select from time to time;
(4) Maintain the financial books and records of the Board, provided, however, that all investments of foreign fire insurance company fees shall be made only in those securities which may be purchased under the provisions of the Illinois Revised Statutes;
(5) In general, perform all duties incident to the office of Treasurer and other duties as from time to time may be assigned to him or her by the Board President or Council;
(6) Give a sufficient bond to the city, which shall be approved by the Mayor and which shall be conditioned upon the faithful performance by the Treasurer of his or her duties under this chapter and the rules and regulations provided for herein, and the premium for which shall be paid for from the funds collected as foreign fire insurance company fees; and
(7) Receive foreign fire insurance company fees and pay over the same upon the order of the Board officers for the maintenance, use and benefit of the City Fire Department.
(Ord. 93-07, passed 1-26-1993)