The Police Pension Fund Board shall consist of 5 members comprised of 2 members appointed by the Village President, 2 members of the Board shall be elected from the active participants of the Pension Fund by such active participants, if any, and 1 member shall be elected by and from the beneficiaries, if any. The members of the Board, whether appointed by the Village President or elected to the Board, shall hold office for a term of 2 years each or until their successors are appointed and have qualified. Upon the death, resignation or inability to act of any elected Board member, his or her successor shall be elected for the unexpired term at a special election, to be called by the Board and conducted in the same manner as the regular biennial election. The Board shall be governed by and shall administer the Police Pension Fund in accordance with the provisions of 40 ILCS 5/3-101 set seq. See § 32.15 (Police Pension Fund) of this Code.
(Ord. CO-2021-19, passed 8-17-2021)