A. Bond: The village president shall, before he enters upon the duties of his office, execute a bond to the village in the penal sum of three thousand dollars ($3,000.00) with sureties to be approved by the board of trustees, conditioned as prescribed by law. (1985 Code § 1-5-2)
B. Compensation:
1. The village president shall devote such time to the duties of his office as the faithful discharge thereof may require, and shall receive as compensation therefor an annual salary of fifty thousand dollars ($50,000.00), payable in equal monthly installments. (1985 Code § 1-5-2; amd. Ord. 87-1, 2-2-1987; Ord. 98-23, 11-12-1998; Ord. 02-06, 9-27-2002; Ord. 14-07, 6-9-2014, eff. 6-9-2014)
2. Effective May 1, 2015, the village president shall not receive any additional compensation from the village for any other duties whether related to or in addition to his duties as village president. (Ord. 14-07, 6-9-2014, eff. 6-9-2014)