A. Fund Created: There is hereby created a police pension fund which shall be a fund kept separate and apart from all other funds of the village and shall be under the control of the board of trustees of the police pension fund 1 .
B. Monies Comprising Fund: The village treasurer shall set apart as police pension fund all monies received by him which are authorized and directed to be set apart for the pension fund by state law 2 .
C. Reports And Records: The village treasurer and all other officials of the village who had the custody of any pension funds, on the second Tuesday in May, shall, annually, make a sworn statement to the board of the police pension fund and to the village president and board of trustees of all monies received and paid out by him on account of the police pension fund during the year and of the amount of such funds then on hand and owing to the pension fund. All surplus then remaining with any official other than the treasurer shall be paid to the village treasurer. Upon demand of the pension board, any official shall furnish a statement relative to the official method of collection or handling of such pension funds. All books and records of such official shall be produced at any time by him for examination and inspection by the board.
D. Conflicting Provisions: In the event any provision or part of a provision of this section shall at any time be in conflict with the statutes of the state, the latter shall govern, and all portions of this section not so in conflict shall remain in full force and effect. (Ord. 0-208, 4-22-1975)
Notes
| 1 | 1. See title 2, chapter 4 of this code. |
| 2 | 2. 40 ILCS 5/3-125. |