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City Treasurer to resign, citing potential conflict of interest

It was only a part-time job to begin with, but Galesburg City Treasurer Elisha French says he has to step down from that job after only three months.

French says he’s stepping down because he’s found a full-time job after being laid off at the beginning of the year from the State Comptroller’s office, and that job – as an investment advisor with Edward Jones – means he can’t be treasurer.

“Since Edward Jones is regulated by the Securities and Exchange Commission, they have certain guidelines that must be followed,” says French, “one of which is that their employees cannot be part of an organization where they have check-signing abilities. This causes my role as city Treasurer to be a conflict of interest.”

French’s last day is Friday. He starts at Edward Jones on Monday.

French campaigned on wanting to do away with the office, and says he expects whoever replaces him will want to do the same.

“Even though I am resigning the position, it does not mean that I will not continue to advocate for the elimination of this position,” says French. “I am confident that the voice of the voters who overwhelmingly elected me to help eliminate the position will be heard.:

As for now, French says Mayor John Pritchard can appoint someone to replace him, with City Council approval, and without a special election being necessary. He says Pritchard has received names of several interested parties, but wouldn’t divulge them. Pritchard, meanwhile, is unavailable.

HEAR ALL OF FRENCH’S REMARKS TONIGHT (Wednesday) AT 5PM ON “GALESBURG’S EVENING NEWS” ON WGIL.

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