(A) The Treasurer shall give bond conditioned upon the faithful performance of the Treasurer’s duties and to indemnify the village for any loss due to neglect of duty or wrongful act on the Treasurer’s part; and, the amount of such bond shall not be less than 10% of the highest amount of taxes and special assessment received by the Treasurer during any fiscal year in the preceding five fiscal years, nor less than one and one-half times the largest amount which the Board estimates will be in the Treasurer’s custody at any one time, nor less than three times the number of residents of the village, as determined by the last Federal Census.
(B) Such bond shall be filed with the Clerk as required by statute.
(Prior Code, § 1-2-79)
Statutory reference:
Related provisions, see 65 ILCS 5/3.1-10-45