Illinois General Assembly - Illinois Compiled Statutes

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65 ILCS 5/3.1-10-30

(65 ILCS 5/3.1-10-30) (from Ch. 24, par. 3.1-10-30)

Sec. 3.1-10-30. Bond.

Before entering upon the duties of their
respective offices, all
municipal officers, except alderpersons and trustees, shall execute a bond with
security, to be approved by the corporate authorities. The bond shall be
payable to the municipality in the penal sum directed by
resolution or ordinance, conditioned upon the faithful performance of the
duties of the office and the payment of all money received by the officer,
according to law and the ordinances of that municipality. The bond
may provide that the obligation of the sureties shall not extend to any
loss sustained by the insolvency, failure, or closing of any bank or savings
and loan association organized
and operating either under the laws of the State of Illinois or the United
States in which the officer has placed funds in the officer's custody, if the
bank
or savings and loan association has been approved by the corporate authorities
as a depository for those
funds. In no case, however, shall the mayor's bond be fixed at less than
$3,000. The treasurer's bond shall be an amount of money that is not less
than 3 times the latest Federal census population or any subsequent
census figure used for Motor Fuel Tax purposes.  Bonds shall be filed
with the municipal clerk, except the bond of the clerk, which shall be
filed with the municipal treasurer.

(Source: P.A. 102-15, eff. 6-17-21.)