All fines, forfeitures, penalties and costs imposed against any person for the breach of any law, may be recovered before the police magistrate or any justice of the peace of said Cook County, by action of debt in the name of the Village, and judgements may be rendered thereon, and collected by execution or other process, as other judgements of justice of the peace are rendered and collected, and such fines, forfeitures and penalties, when collected, shall be paid over to the Treasurer of said Village within ten (10) days from the time of the receipt thereof by such police magistrate or justice of the peace, and that every police magistrate or justice of the peace in this Village shall make a report in writing to the Board of Trustees at each regular meeting, showing a record of all fines, forfeitures, and penalties by him collected, and no such police magistrate or justice of the peace shall remit any fine, forfeiture or penalty imposed upon any person or persons wherein the Village is party plaintiff or in any way interested, without the written consent of the Board of Trustees.