(A) Establishment. There is hereby established a Foreign Fire Insurance Board, which shall replace, and assume the duties of the former 2% Committee. The Foreign Fire Insurance Board shall consist of seven trustees, including the Fire Chief, who shall hold office by virtue of rank, and six members, who shall be elected at large by the sworn members of the Department in accordance with division (D) below. If there is an insufficient number of candidates to fill all these positions, the number of Board members may be reduced but not to fewer than three trustees.
(B) 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 division (E) below.
(C) Payments to Foreign Fire Insurance Fund. Each year, the Treasurer of the Foreign Fire Insurance Board shall collect foreign fire insurance taxes, as established in § 110.066 of the city code, and shall deposit such taxes into the Foreign Fire Insurance Fund on or before December 31 of such year.
(D) Election, powers, duties of Foreign Fire Insurance Board.
(1) Election of Foreign Fire Insurance Board.
(a) The sworn members of the City Fire Department shall elect three of the six members of the Foreign Fire Insurance Board to serve two-year terms from among themselves at an election called and organized for such purpose in December of each calendar year. All sworn members of the Fire Department shall be eligible for election; but not including paid-on-call firefighters. The sworn members receiving the most votes shall be elected to the Foreign Fire Insurance Board. A member of the Foreign Fire Insurance Board shall be eligible for re-election.
(b) Members of the Foreign Fire Insurance Board shall serve for their designated two-year terms and until their successors have been elected and qualified for office. Any vacancy that may occur shall be filled for the balance of the unexpired term by a special election called by the remaining members of the Foreign Fire Insurance Board.
(c) Following each regular election in December of each year, the Foreign Fire Insurance Board members shall elect which of them shall serve as Chairperson, Vice Chairperson, Treasurer and Secretary.
(2) Treasurer’s bond.The city may provide for securing a bond for the Treasurer of the Foreign Fire Insurance Board before entering upon the duties of his or her office, in the sum of $50,000. Any such bond, the form and content of which shall be approved by the Mayor, shall be conditioned on the faithful performance by the Treasurer of his or her duties and shall indemnify the city and the Foreign Fire Insurance Fund for any loss by reason of any neglect of duty or any act of the Treasurer. The cost of such bond shall be paid out of the Foreign Fire Insurance Fund.
(3) Powers and duties of Board. The Foreign Fire Insurance Board shall manage and administer the money in the Foreign Fire Insurance Fund as required by the provisions of this section. The Chairperson of the Foreign Fire Insurance Board (or, in the Chairperson’s absence, the Vice Chairperson) shall preside over all meetings of such Board, and a quorum of at least a majority of the members then holding office shall be required to conduct any Board business. The Foreign Fire Insurance Board shall have the power to adopt additional rules and regulations for the management and operation of the Foreign Fire Insurance Board and Foreign Fire Insurance Fund not inconsistent with the provisions of this section; provided, however, that no such rules and regulations shall be effective until 15 days after they are adopted and a copy is delivered to the City Manager. In addition, the members of the Foreign Fire Insurance Board shall have the other responsibilities set forth in this section.
(E) 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 a fully insured or collateralized interest-bearing account in a bank or savings and loan, designated by city ordinance as an approved depository of city funds, and meeting the standards of the Public Funds Investment Act, 30 ILCS 235/0.01 et seq., for deposit of public funds.
(2) Restrictions on use of Fund. Money from the Foreign Fire Insurance Fund may be used only for the maintenance, use and benefit of the Fire Department.
(3) Designation of uses.
(a) List of appropriate expenditures. The Foreign Fire Insurance Board shall develop and maintain a list of those items that the Board determines to be appropriate expenditures under 65 ILCS 5/11-10-2, and this section. The Foreign Fire Insurance Board shall review and, if necessary, update this list at least once each year no later than April 1 of each year. The list shall be a public document.
(b) Annual hearing; 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. Such resolution shall be adopted after an annual public hearing conducted no later than April 1 of each year, at the City Public Safety Building or such other location within the city designated in the notice, which public hearing shall be noticed and conducted in accordance with the Illinois Open Meetings Act, 5 ILCS 120/1 et seq. In addition, notice of said public hearing shall be published in a newspaper of general circulation in the city not less than ten nor more than 30 days prior to the date of the public hearing.
(c) Recommended uses. Not less than 21 days prior to the date of the aforesaid public hearing, the Foreign Fire Insurance Board shall submit to the Mayor and City Council 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 a majority of the members of the Foreign Fire Insurance Board then holding office shall be required to authorize any use of money from the Foreign Fire Insurance Fund.
(4) Fund pay outs. 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 maintenance work or purchases authorized by resolution of the Foreign Fire Insurance Board pursuant to division (E)(3) above. The written order of the Foreign Fire Insurance Board may consist of a notation in duly approved minutes, an order signed by the Chairperson of the Foreign Fire Insurance Board, or such other writing as may be designated by rule of the Foreign Fire Insurance Board. The signatures of both the Treasurer and either the Chairperson or Vice Chairperson 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. Without the express authorization of the City Council, the Foreign Fire Insurance Board shall not be permitted:
(a) To incur debt; or
(b) To enter into any contract or agreement for maintenance of existing equipment or for new equipment 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; meeting minutes. 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. The Secretary of the Foreign Fire Insurance Board shall keep accurate and current minutes of all meetings conducted by the Foreign Fire Insurance Board, including, but not limited to, the annual public hearing.
(7) Annual report. The Foreign Fire Insurance Board shall, on or before May 30 of each year, make and file with the City Clerk an annual report of the activities of the Foreign Fire Insurance Board during the prior year ended April 30, including a full and detailed account of all receipts and disbursements made from the Foreign Fire Insurance Fund during the city’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 city.
(Ord. 2010-03, passed 1-4-2010; Ord. 2016-16, passed 6-20-2016)