§ 7. MAXIMUM BALANCE.] The maximum balance to be kept in any one bank shall not exceed an amount equal to one-half the capital stock, surplus and undivided profits of such bank, but the county board. shall have power, if it sees fit, to limit such maximum balance to a smaller amount. No bank shall have more than two million dollars on deposit at any one time, except during the month when any given bank may be the active bank, when this amount may be increased if occasion demands; the intent of this Act being, however, not to increase unduly the deposits in said active bank. The county treasurer in advertising for bids under section 2 of this Act is authorized and directed to give notice to the foregoing effect. § 8. WITHDRAWALS.] When county moneys have been deposited in any such depositary they shall be withdrawn therefrom only in the following manner: Funds designated in section 5 of this Act as "Class A" funds and as "Class B" funds shall be withdrawn only upon checks or drafts signed by the county treasurer and payable to the order of the State Treasurer or the other proper authorities or persons entitled by law to receive the same; funds designated in said section 5 as "Class C" funds shall be withdrawn only upon checks or drafts signed by the county treasurer and supported by warrants signed by the county clerk and countersigned by the president or chairman of the county board; funds designated in said section 5 as "Class D" funds shall be withdrawn only upon checks or drafts signed by the county treasurer and payable to the persons entitled to receive the same: Provided, however, that subject to the limitations hereinafter set forth in section 11, the county treasurer shall have the power to withdraw such county moneys from any depositary in the cases provided for and under the circumstances stated in sections 9 and 10 of this Act. § 9. PETTY CASH FUND.] For the purpose of enabling the county treasurer to pay in cash such warrants and other demands as may be presented to him for payment in cash, he is hereby authorized to withhold from the daily deposit of funds required of him under section 6 of this Act, or to withdraw from the bank or banks holding such county moneys on deposit, upon check or draft payable to his own order as county treasurer, such amounts as will enable him to maintain a petty cash fund sufficient to meet the daily demand for the purpose herein indicated: Provided, however, that the amount of said petty cash fund shall at no time exceed the sum of $200,000. The county treasurer shall keep proper records of such petty cash fund, showing the amounts so withheld or withdrawn by him daily and the amounts paid out by him in cash from day to day. Such records shall be open to the inspection of all persons wishing to examine the same. § 10. EQUALIZATION AND TRANSFER OF DEPOSITS.] For the purpose of facilitating the equalization or apportionment of the amount of the balances on deposit with the several depositaries and the speedy transfer of money from one depositary to another in case of necessity, the county treasurer is hereby authorized to draw checks or drafts against any deposit made by him under the terms of this Act. Each draft or check so drawn shall be payable to the order of the county treasurer, and shall indicate upon its face that it is drawn only for deposit in a bank authorized under the provisions of this Act to receive county moneys. § 11. ACTIVE BANK.] Of the banks which may have been so designated as depositaries, one shall be designated from time to time by the county treasurer as the active bank or depositary for a period of not more than one month at a time. The county board shall have power, if it sees fit, to require that no bank whose aggregate capital stock and surplus is less than a certain specified amount shall be named as the active bank. During such period the county treasurer shall draw all of his checks to pay warrants and other demands drawn upon him upon such active bank: Provided, however, that the county treasurer shall have power to withdraw county moneys from any depositary for the purposes stated in section 10 of this Act: And, provided, further, that during such period drafts and checks against deposits of funds designated by section 5 hereof as "Class A" funds and "Class B" funds may be drawn upon other than the active bank. § 12. RECORD OF DEPOSITS.] The county treasurer shall keep in his office a record showing the date and aggregate amount received by him daily on account of each class of funds designated in section 5 of this Act, and also his accounts with each depositary, which accounts shall show daily the date and amount of each deposit, the date and amount of each withdrawal, and the balance on deposit. Each such account shall also show the date and amount of each interest payment received by or credited to the county treasurer and the rate of interest at which such payment was computed. Said record and all contracts with depositaries shall be open to the inspection of all persons wishing to examine the same. § 13. MONTHLY REPORT OF INTEREST RECEIVED.] The county treasurer shall make to the county clerk a report, under oath, for each calendar month, of all interest received by the county treasurer or credited to the county treasurer by any bank or other depositary, in which is deposited any county moneys, and at the time of making such report the county treasurer shall pay into the county treasury for the benefit of the county the aggregate amount of all interest so received by or credited to him, as shown by said report, without reference to the fund or funds on which such interest or any part thereof may have been earned. § 14. BANK-INTEREST.] Such report shall show the name of each bank or depositary where any county moneys are deposited; the average sum of money on deposit in such bank or depositary during the calendar. month, the interest paid or credited thereon by each bank or depositary, and the rate of interest so paid or credited. § 15. REPORT-TIME OF MAKING.] Such report shall be made and verified to the county clerk on or before the fifth day of the month next succeeding the month for which the report is rendered. § 16. COUNTY TREASURER'S BOND.] When the county treasurer in any county to which this Act shall apply shall have complied with the terms thereof and shall have deposited all county moneys in depositaries designated and selected in the manner hereinafter provided, he shall be permitted to execute a new bond in a penal sum to be fixed by the county board with sufficient sureties to be approved by said board, and every county treasurer hereafter elected, before entering upon the duties of his office, shall in like manner give a bond, the amount thereof to be fixed and the sureties thereon to be approved by the county board: Provided, however, that the amount of such bond may be increased or diminished from time to time by resolution of said county board, and in fixing the amount of such bond due regard shall be had by the county board to the effect of the deposit in bank of county moneys in accordance with provisions of this Act upon the actual amount of money for which the county treasurer may from time to time be held responsible: And, provided, further, that in counties having a population of over 300,000, the. amount of said bond shall not be less than $3,000,000. The bond provided for in this section shall be in lieu of all official bonds otherwise required of said county treasurer, including any bond which he might otherwise be required to give as ex officio county collector. Said bond shall be filed with the county clerk and shall be in substance in the following form: Know all men by these presents, that we (A B), principal, and (CD and E F), sureties, all of the county of... ...and State of Illinois, are held and firmly bound to the People of the State of Illinois, in the penal sum of..... ....dollars, for the payment of which, well and truly to be made, we bind ourselves, each of us, our heirs, executors and administrators, firmly by these presents. Signed with our hands and sealed with our seals. Dated at...... ...., the day of... 19.... The conditon of the above bond is such, that if the above bounden (A B) shall perform all the duties which are or may be required by law to be performed by him, as treasurer of the said county of... in the time and manner prescribed or to be prescribed by law, and when he shall be succeeded in office, shall surrender and deliver over to his successor in office all books, papers, moneys and other things belonging to said county, or appertaining to his said office, then the above bond to be void; otherwise to remain in full force. Signed, sealed and delivered in the presence of (G H). A B § 17. COST OF BONDS TO BE PAID BY COUNTY.] The premium on all bonds required of the county treasurer in any official capacity by the provisions of this Act, if the surety thereon shall be a surety company or companies authorized to do business in this State under the laws thereof, shall be paid out of the county treasury: Provided, however, that the amount of said premium shall not exceed one-half of one per cent per annum of the amount of said bond. § 18. LIABILITY OF TREASURER.] The county treasurer shall be discharged from responsibility for all moneys deposited by him pursuant to the terms of this Act, with any depositary or depositaries who may be named and shall qualify in accordance with the terms thereof: Provided, that nothing in this Act contained shall be construed in any manner to change or affect the liability of treasurers having depositaries under and in accordance with the terms of this Act, except that such treasurers shall be discharged from liability for moneys so deposited by them in such depositaries while such moneys so deposited are in the custody of any such depositary. § 19. SUITS AGAINST TREASURER.] All reasonable expenses incurred by the county treasurer in prosecuting or defending suits or actions. brought by or against him in any official capacity shall be paid out of the county treasury. § 20. No COMMISSIONS TO BE RETAINED.] The county treasurer shall retain no fees, commissions or other compensation whatsoever, except his salary or other compensation fixed by law, for his services. when acting as such county treasurer or in any other official capacity incident to his incumbency of that office. All fees, perquisites and emoluments (above the amount of such salary or other compensation fixed by law) shall be paid into the county treasury. § 21. BANKS NOT TO PAY PROFIT TO TREASURER.] No bank or other depositary holding county moneys deposited therewith by the county treasurer in accordance with the provisions in this Act, or otherwise, and no officer of any such bank depositary, or other person, shall pay to, withhold for the benefit of, or contract in any manner for the payment to such county treasurer, or to any other person for him, of any interest or other fee, perquisite or emolument, on account of the deposit of such county moneys, except such interest as shall be paid to such county treasurer for the benefit of the county. § 22. COUNTY TREASURER NOT TO PROFIT-FALSE STATEMENT FROM DEPOSITARY-PENALTIES.] The making of a personal profit or emolument by the incumbent of the office of county treasurer or by any other county officer out of any county moneys by loaning, depositing or otherwise using or disposing of the same in any manner whatsoever, shall be deemed a felony and shall be punished by imprisonment in the penitentiary for a term of not less than one nor more than ten years. Any county officer or other person who wilfully violates any provision of this Act, other than that above specified in this section, or who wilfully neglects or refuses to perform any duty imposed upon such person by the terms of this Act, shall be fined not more than ten thousand dollars for the benefit of the county or be imprisoned in the penitentiary for not more than two years or both. § 23. COUNTIES IN WHICH ACT TO APPLY.] This Act and all of the provisions thereof shall apply in every county of this State now containing, or which may hereafter contain, more than 150,000 inhabitants. § 24. The provisions of this Act shall not apply to the office of or to any county treasurer until the expiration of the term for which. the present incumbent of such office has been elected. § 25. REPEAL.] All Acts and parts of Acts in any respect in conflict with this Act, or any part thereof, are hereby repealed. § 26. The invalidity of any portion of this Act shall not affect the validity of any other portion thereof, which can be given effect without such invalid part. APPROVED June 29th, 1915. PENSION FUND-COUNTY EMPLOYEES IN COUNTIES OF OVER 150,000. AN ACT to provide for the formation and disbursement of a pension fund in counties having a population of 150,000 or more inhabitants, for the benefit of officers and employees in the service of such counties. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That in counties having a population exceeding 150,000 inhabitants, there shall be created, established and maintained a pension fund for officers and employees who are employed in such counties in accordance with the provisions hereof: Provided, however, that the provisions of this Act shall not apply to temporary or probationary employees nor to any employee who is sixty or more years of age at the time this Act takes effect and who at said time has not been in service of such county for at least ten years. Nor to laborers unless any such laborer shall within six months after this Act shall be in force and effect, or in the event that any such laborer is now in the employ of such county within six months after such laborer shall enter the service of such county give written notice of his election to the board of trustees of said fund of his desire to participate in the benefits hereunder. Said fund shall consist of amounts of two dollars a month retained or deducted by the comptroller of such county from the salaries or wages of each employe and such other sums as are hereinafter referred to: Provided, however, that if the name of any such employe shall not appear upon the pay-roll of the department in which he or she is employed by reason of leave of absence, sickness, lack of work, or any other good and sufficient cause, making a deduction impossible, such employe may retain his or her rights under this Act by paying two dollars each month to the treasurer of such county for the benefit of said fund, during his or her temporary absence from the service. § 2. A board composed of the comptroller and treasurer of said county and three employes elected as hereinafter provided, who shall be residents of such county, shall be and constitute a board of trustees, authorized to carry out the provisions of this Act. Said board shall be known as the Board of Trustees of the Municipal Pension Fund of such county. The three members of said board who are employes shall not hold, during their term of membership on said board, any appointive or elective political offices or positions. One of such persons shall be elected to serve for a term of one year, one for a term of two years, and one for a term of three years, and annually thereafter said employes shall elect one of their number to hold office for a term of three years. When any elective member of said board shall cease to be in the employe of said county, his or her membership in such board shall ipso facto |