There is hereby established a Police Pension Board of Trustees, comprised of five members, to be chosen as hereinafter provided, to provide for the disbursement of the Police Pension Fund and designate the beneficiaries thereof as herein directed, which member shall be known as the "Board of Trustees of the Police Pension Fund of the City of Oakbrook Terrace, Illinois." Two members shall be appointed by the Mayor of the city, one of which shall serve from the date of appointment until May 9, 1984; and the other shall serve from the date of appointment until May 9, 1985. The successors to the foregoing Trustees shall serve for a period of two years or until such time as their successors are appointed and qualified. The third and fourth members of the Board shall be elected from the regular police force by the active members. The fifth member shall be elected from the beneficiaries by such beneficiaries. All elected members shall be elected and have their two-year term of office ending April 30 of every other year after their initial election.
(Ord. 82-24, passed 11-23-82; Am. Ord. 02-54, passed 12-18-02; Am. Ord. 06-39, passed 1-23-07)