HB0379 EngrossedLRB102 10032 RPS 15352 b


  
1    AN ACT concerning public employee benefits.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Illinois Pension Code is amended  by 
5changing Section 17-147 as follows:
 



6    (40 ILCS 5/17-147)  (from Ch. 108 1/2, par. 17-147)



7    Sec. 17-147. Custody of Fund; bonds; legal Fund - Bonds - 
8Legal proceedings. The
city treasurer, ex officio
ex-officio, 
9shall be the custodian of the Fund,
and shall secure and safely 
10keep it, subject to the control and
direction of the Board. The 
11city treasurer He shall keep the his books and accounts

12concerning
the Fund in the manner prescribed by the Board. The

13books and accounts
shall always be subject to the inspection 
14of the Board or any
member
thereof. The city treasurer shall be 
15liable on the city treasurer's his official bond for the

16proper performance of his duties and the conservation of the 
17Fund.

18    Payments from the Fund shall be made upon checks or 
19through direct deposit transmittals authorized warrants signed 
20by the
president and the secretary of the Board of Education, 
21the president of
the Board, and countersigned by the executive 
22director or
by such person as the Board may designate from time 
23to time
by appropriate resolution.

 
 
HB0379 Engrossed- 2 -LRB102 10032 RPS 15352 b

1    Neither the treasurer nor any other officer having the 
2custody of the
Fund is entitled to retain any interest 
3accruing thereon, but such
interest shall accrue and inure to 
4the benefit of such Fund,
become a
part thereof, subject to the 
5purposes of this Article.

6    Any legal proceedings necessary for the enforcement of the 
7provisions
of this Article shall be brought by and in the name 
8of the Board of the Fund.

9(Source: P.A. 90-566, eff. 1-2-98.)