All members of the City Fire Department shall be eligible to be elected as officers of the Department Foreign Fire Insurance Board. The members of the Department shall elect the officers of the Board. Officers shall include a Treasurer, and they shall make needful rules and regulations with respect to the Department Foreign Fire Insurance Board and the management of the money to be appropriated to the Board. The officers of the Department Foreign Fire Insurance Board shall develop and maintain a listing of those items that the Board feels are appropriate expenditures under state law regarding foreign fire insurance company fees. The Treasurer of the Department Foreign Fire Insurance Board shall give a sufficient bond to the city. This bond shall be approved by the Mayor and conditioned upon the faithful performance by the Treasurer of his or her duties under this subchapter and the rules and regulations provided in the Illinois Municipal Code, ILCS Ch. 65, Act 5, § 11-10-2. The Treasurer of the Department Foreign Fire Insurance Board shall receive the appropriated money, pursuant to § 116.02 of this code, and shall pay out the money upon the order of the Department Foreign Fire Insurance Board for the maintenance, use and benefit of the Department. The Treasurer shall make all records of the Department Foreign Fire Insurance Board available to the city’s auditors on an annual basis for verification that all purchases made with appropriated money are for the maintenance, use and benefits of the Department.
(1980 Code, § 11.2002)