(A) Pursuant to ILCS Ch. 40, Act 5, §§ 3-101 et seq., there is hereby established a Police Pension Fund in this village and to be administered consistent with state statutory law.
(B) Pursuant to ILCS Ch. 40, Act 5, § 3-128, there is hereby created a Board of Trustees to administer said Police Pension Fund and to designate the beneficiaries thereof, said Board to be known as the “Board of Trustees of the Police Pension Fund of the Village of South Elgin, Kane County, Illinois,” said Board of Trustees shall be composed of five members, a majority of whom shall be residents of this village, and they shall be appointed as set forth in ILCS Ch. 40, Act 5, § 3-128.
('81 Code, §§ 3-7.01 and 3-7.02) (Ord. 1981-13-2, passed 7-20-81)