There is hereby established a foreign fire insurance board which shall consist of
five members of the fire department of the village. All members of the fire department
of the village shall be eligible to be annually elected to such five officer positions
on such foreign fire insurance board. Such officers shall include a treasurer, who
shall have such duties and obligations in connection therewith are as specified under
and pursuant to section 11-10-2 (65 ILCS 5/11-10-2) of the Illinois Municipal Code
(65 ILCS 5/1-1-1 et seq.), as now or hereafter supplemented and amended. Such officers
shall make all needful rules and regulations with respect to the foreign fire insurance
board and the management of the money to be appropriated to such foreign fire insurance
board and shall have such other powers, duties and responsibilities as may be specified
or otherwise required under and pursuant to section 11-10-2 (65 ILCS 5/11-10-2), of
the Illinois Municipal Code (65 ILCS 5/1-1-1 et seq.) as now or hereafter supplemented
and amended. All money paid to the village comptroller as provided in this article
shall be set apart and appropriated annually by the president and board of trustees
to such foreign fire insurance board for the maintenance, use and benefit of the fire
department of the village. Such funds shall be audited as a part of the annual village
audit to verify that any purchases therefrom are for the maintenance, use and benefit
of the fire department.
