(70 ILCS 2105/4b) (from Ch. 42, par. 386b)
Sec. 4b.
Each of the trustees shall enter into bond with security to be approved
by the appointing authority in such sum as the appointing authority may
determine.
A majority of the board of trustees shall constitute a quorum, but a
smaller number may adjourn from day to day. No trustee or employee of such
district shall be directly or indirectly interested financially in any
contract work or business or the sale of any article, the expense, price or
consideration of which is paid by said district; nor in the purchase of any
real estate or other property belonging to the district, or which shall be
sold for taxes or assessments or by virtue of legal process at the suit of
said district: Provided that nothing herein shall be construed as
prohibiting the appointment or selection of any person as trustee or
employee whose only interest in said district is as an owner of real estate
in said conservancy district or of contributing to the payment of taxes
levied by said district.
(Source: P.A. 77-681.)
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