(70 ILCS 1870/28) (from Ch. 19, par. 778)
Sec. 28.
The Board shall appoint a secretary and a treasurer, who need not be
members of the Board, to hold office during the pleasure of the Board, and
fix their duties and compensation. Before entering upon the duties of their
respective offices each shall take and subscribe the constitutional oath of
office, and the treasurer shall execute a bond in the amount and with
corporate sureties approved by the Board. The bond shall be payable to the
District in whatever penal sum is directed by the Board, conditioned upon
the faithful performance of the duties of the office and the payment of all
money received by him according to law and the orders of the Board. The
Board may, at any time, require a new bond from the treasurer in such penal
sum as may then be terminated by the Board. The obligation of the sureties
shall not extend to any loss sustained by insolvency, failure or closing of
any savings or loan association or national or State bank wherein the
treasurer has deposited funds if the
bank or savings and loan association has been approved by the Board
as a depositary for these funds. The
oaths of office and the treasurer's bond shall be filed in the principal
office of the Port District.
(Source: P.A. 83-541.)
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