A. There is hereby created a board of trustees of the police pension fund of the village ("board"), composed of five (5) members, to administer the police pension fund. The board shall convene its first meeting upon receipt by the village of a police officer's application for participation in the fund.
B. The board of trustees of the police pension fund shall have all the powers and authority and shall perform such duties as are provided and set forth in 40 Illinois Compiled Statutes 5/3-101 et seq., as now existing or hereafter amended. (Ord. 2008-861, 2-12-2008)