65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-48.3-13

(65 ILCS 5/11-48.3-13) (from Ch. 24, par. 11-48.3-13)

Sec. 11-48.3-13.

The State and all counties, cities, villages,
incorporated towns and other municipal corporations, political subdivisions
and public bodies, and public officers of any thereof, all banks, bankers,
trust companies, savings banks and institutions, building and loan
associations, savings and loan associations, investment companies and other
persons carrying on an insurance business and all executors,
administrators, guardians, trustees and other fiduciaries may legally
invest any sinking funds, moneys or other funds belonging to them or within
their control in any bonds issued pursuant to this Division, it being the
purpose of this Section to authorize the investment in such bonds of all
sinking, insurance, retirement, compensation, pension and trust funds,
whether owned or controlled by private or public persons or officers;
provided, however, that nothing  contained in this Section may be construed
as relieving any person from any duty of exercising reasonable care in
selecting securities for investment.

(Source: P.A. 86-279.)

65 ILCS 5/11-48.3-14

(65 ILCS 5/11-48.3-14) (from Ch. 24, par. 11-48.3-14)

Sec. 11-48.3-14.

The governing and administrative body of the
Authority shall be a Board consisting of 9 members and shall be known as
the Municipal Zoo Authority Board. The members of the Board shall be
individuals of generally recognized ability and integrity. They shall serve
without compensation, but shall be reimbursed for actual expenses incurred
by them in the performance of their duties.  Any member of the Board,
however, who is appointed to the office of secretary or treasurer may
receive compensation for his or her services as such officer. No member of
the Board or employee of the Authority shall have any private financial
interest, profit or benefit in any contract, work or business of the
Authority or in the sale or lease of any property to or from the Authority.

(Source: P.A. 86-279.)