(40 ILCS 5/19-205) (from Ch. 108 1/2, par. 19-205)
Sec. 19-205.
Custodian of fund - Bond - Filing - Breach.
The city treasurer subject to the control and direction of the board of
trustees hereinafter mentioned, shall be the custodian of said pension
fund, and shall secure and safely keep the same and shall keep books and
accounts concerning said fund, in such manner as may be prescribed by the
said board of trustees, which said books and accounts shall always be
subject to the inspection of said board of trustees, or any member thereof.
The city treasurer shall, within 10 days after his election or
appointment, execute a bond to the city, with good and sufficient sureties,
in such penal sum as the said board of trustees shall direct, which said
bond shall be approved by the said board of trustees, and shall be
conditioned for the faithful performance of the duties of said office, and
that he will safely keep and well and truly account for all moneys
belonging to said pension fund, and all interest thereon, which may come
into his hands as such treasurer, and that upon the expiration of his term
of office, or upon his retirement therefrom for any cause, he will
surrender and deliver over to his successor all unexpended moneys, with
such interest as he may have received thereon, and all property which may
have come into his hands as treasurer of said pension fund. Such bonds
shall be filed in the office of the city clerk of said city, and in case of
a breach of the same, or the conditions thereof, suit may be brought on the
same in the name of the said city for the use of said board of trustees, or
any person or persons injured by such breach.
(Source: Laws 1963, p. 161.)
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