The Board of Trustees of the Police Pension Fund shall consist of five members, all of whom shall be residents of the Village. The members of the Board of Trustees of the Police Pension Fund shall be selected as provided for by law, for the respective terms provided by law. Two of the members of the Board of Trustees of the Police Pension Fund shall be appointed by the President of the Board of Trustees of this village. One of the members so appointed shall serve for the period of one year beginning on the second Tuesday in May after this municipality came, by virtue of having obtained the necessary population, within the provisions of the Illinois Pension Code, and one of said members shall serve for a period of two years, beginning on the same date. The successors to each of the foregoing Trustees shall serve for a period of two years each commencing on the second Tuesday in May, or until such time as their successors are appointed and qualified. The third and fourth members of the Board of Trustees of the Fund shall be elected from the regular police force by the active members of said force. The fifth member shall be elected by and from among the beneficiaries of the Fund as soon as there are such beneficiaries. The members to be elected shall be elected by ballot for a term of two years, beginning on the second Tuesday of the first May after said election, at a regular election, at which election all members of the regular police force shall be entitled to vote for the police force members of the Board of Trustees of the Police Pension Fund and all beneficiaries of lawful age shall be entitled to vote for the members chosen from among the beneficiaries. The election provided for in this section shall be held biennially on the third Monday in April, under the Australian ballot system, at such place or places in said village, under such regulations as shall be prescribed by the appointed members of the Board of Trustees of the Police Pension Fund. In the event of the death, resignation, or inability to act of any member of the Board of Trustees of the Police Pension Fund , elected under the provisions of this section, the successor of such member shall be elected for the unexpired term at a special election, which shall be called by the Board of Trustees of the Police Pension Fund and shall be conducted in the manner as are the regular elections provided for above. Suitable rooms for offices and meetings of the Board of Trustees of the Police Pension Fund shall be assigned by the President or Board of Trustees of the village. The Board of Trustees of the Pension Fund, which shall be known as The Board of Trustees of the Police Pension Fund of the Village of Chatham, Sangamon County, Illinois, shall meet at least quarterly on the second Tuesday of July, October, January, and April annually, as provided by law, and shall hold such additional meetings as may be called by the President of said Board. (See 40 ILCS 5/3-128 through 3-130.)
(Ord. 81-12, passed 6-9-81)