A. License Required: It shall be unlawful for any corporation or association not incorporated under the laws of the state of Illinois to engage in effecting fire insurance in the village or to transact any business of fire insurance in the village without fully complying with the provisions of this section. (1965 Code § 21-4.01)
B. Fees: Any such corporation or association shall pay to the village treasurer for the maintenance, use and benefit of the fire department a sum of money equal to two percent (2%) of the gross receipts each year received for premiums by any and all agents of any such corporation or association or received as premiums in any way for fire insurance policies on any property in the village. Such payments shall be made for the year ending July 1 of each year. (1965 Code § 21-4.02)
C. Reports: Every person acting as representative for or on behalf of any such company or association shall, on or before July 15 of each year, render to the village treasurer a full, true and just account, verified by oath, of all premiums which have been received by him on behalf of the company or association during the year ending the preceding July 1 on such fire insurance policies. (1965 Code § 21-4.03)
D. Time Of Payment: All payments under the provisions of this section shall be made on or before July 15 following the termination of the year for which such payments are due. (1965 Code § 21-4.04)
E. Penalty For Failure To Report And Pay Fee: If any such company, corporation or association fails to file the report herein designated by the day required by this section, or if the amount of rates aforesaid shall remain unpaid after the day limited for the payment thereof, every such corporation, company or association shall be subject to the penalties provided in section 3-14-12 of this title; and in addition to such penalty, the village shall recover in an action in its name, and for its use, against such corporation, company or association, so failing to make such report or pay such rates, the full amount of the rates which may be due under the provisions hereof. (Ord. O2000-47, 12-4-2000, eff. 1-1-2001)
F. Establishment Of Foreign Fire Insurance Fund: There is hereby established a foreign fire insurance fund to be managed and administered by the foreign fire insurance board in accordance with this section.
G. Transfers To Foreign Fire Insurance Fund: Each year the village treasurer shall collect foreign fire insurance taxes in the amount prescribed in this section and shall deposit such taxes into the foreign fire insurance fund on or before December 1 of such year. (Ord., 4-1-1997)
H. Management And Administration Of Fund: The foreign fire insurance board shall administer the foreign fire insurance fund in accordance with the following rules and regulations:
1. Fund Account: All money in the foreign fire insurance fund shall be kept in one or more fully insured or collateralized interest bearing accounts in one or more banks or savings and loans located within the village, and meeting the standards of the public funds investment act 1 for deposit of public funds.
2. Restrictions On Use And Procedures For Expenditures:
a. Restrictions On Use Of Fund: Money from the foreign fire insurance fund may be used for the following purposes:
(1) Maintenance of existing fire department firefighting and emergency medical service equipment;
(2) Purchase of materials and equipment for firefighting and emergency medical service purposes. All such equipment shall be purchased in the name of the village fire department and shall become the property of the village;
(3) Purchase of or payment for equipment, materials, and/or training opportunities for the improvement, maintenance, use and benefit of the village fire department and/or station;
(4) Payment of any service charge assessed by the Illinois Municipal League, or such other entity as is charged with the collection and disbursement of foreign fire insurance tax proceeds, provided that such service charge is authorized by state law; and
(5) Payment of the cost of the treasurer's bond required by this code and any treasurer's services obtained from the village's director of finance.
b. Annual Meeting; Notice: The foreign fire insurance board shall authorize use of money from the foreign fire insurance fund by written resolution setting forth with particularity the items on which funds may be expended and the amounts approved for expenditure for the next commencing budget year of the village. Such resolution shall be adopted after an annual public meeting conducted no later than November 1 of each year, at the fire station, which public meeting shall be noticed and conducted in accordance with the Illinois open meetings act 2 . In addition, notice and said public meeting shall be provided to the village clerk in the same manner as it is provided to the members of the foreign fire insurance board.
c. Recommended Uses: Not less than thirty (30) days prior to the date of the aforesaid public meeting, the foreign fire insurance board shall submit to the village president and board of trustees and make available to the general public a list of items recommended for approval and funding from the foreign fire insurance fund.
d. Necessary Vote: An affirmative vote of at least four (4) members of the foreign fire insurance board shall be required to authorize any use of money from the foreign fire insurance fund.
e. Annual Appropriations: Upon passage of the aforesaid resolution by the foreign fire insurance board, the foreign fire insurance board shall forward a copy of the resolution to the village president and board of trustees. The village president and board of trustees shall include the expenditures in the annual budget and appropriation ordinances for the budget year in which such expenditures will be incurred.
3. Purchasing Procedures: All expenditures of money from the foreign fire insurance fund shall be only for expenditures included in the annual budget and appropriation ordinances of the village and shall be made in accordance with the Illinois constitution of 1970, and all state and village laws, ordinances, resolutions, rules, regulations and procedures that govern the expenditure of public funds and the purchase of materials, equipment, goods and services.
4. Fund Payouts: The treasurer of the foreign fire insurance board shall pay out money from the foreign fire insurance fund only upon the written order of the foreign fire insurance board and only for work or purchases authorized by resolution of the foreign fire insurance board and included in the village's annual budget and appropriation ordinances pursuant to subsection H2 of this section. The signatures of both the treasurer and either the president or vice president of the foreign fire insurance board shall be required on any check, draft or other order drawn on the accounts of the foreign fire insurance fund.
5. Limitation On Debt And Expenditures: The foreign fire insurance board shall not be permitted: a) to incur debt, or b) to enter into any contract or agreement in excess of the unencumbered funds currently on deposit in, and authorized for expenditure from, the foreign fire insurance fund at the time of execution of such contract or agreement.
6. Fund Records: The treasurer of the foreign fire insurance board shall keep accurate and current records of the foreign fire insurance fund and all accounts maintained thereunder, including all deposits thereto, withdrawals and disbursements therefrom, balances, and the like.
7. Meeting Notices And Minutes; Quorum: The secretary of the foreign fire insurance board shall provide notice, and keep accurate and current minutes, of all meetings conducted by the foreign fire insurance board, including, but not limited to, the annual public meeting, and all actions taken. The secretary shall provide advance notice of all meetings, and copies of all minutes of meetings when approved, to the village clerk and fire chief. Four (4) members of the foreign fire insurance board shall constitute a quorum for the holding of meetings.
8. Annual Report: The foreign fire insurance board shall, within thirty (30) days of the close of the fiscal year each year, make and file with the village clerk an annual report of the activities of the foreign fire insurance board during the prior fiscal year, including a full and detailed account of all receipts and disbursements made from the foreign fire insurance fund during the village's fiscal year ended immediately prior to the filing of such report. The foreign fire insurance fund and all records relating thereto shall be subject to and part of the annual audit of the village. (Ord. O2013-06, 3-19-2013; amd. Ord. O2019-24, 8-6-2019)
Notes
| 1 | 1. 30 ILCS 235/0.01 et seq. |
| 2 | 2. 5 ILCS 120/1 et seq. |