Eanorrblo 1. b. YJoho - pa@ 0 

AFClOlO 3828, VO(,Zat'8 AnnoCatod Clvll 5tahsto*, proVI&or thbc tho tom* oountl trobAwoP* Md •oouac~ tmrury’ b8 u8.d la all provl8inu relating co rcbool 

rball bo oon8truod co moan Cbo oouatt dopo8lco~, iz?%t 

tklo 8oa1881ato?8' court rbll Ill0 rlth the stat. Doprrtmeat of B&obtloa a 0091 of tlao bead of raid doporltorr to 

OOTO? rehool~. 

Ar.tlole 2629 o f th o l bmo oodlflutlon pawvl’lo8 b8 Sollovr t 

Ylitun tveatt da78 +ft*r the reo*ipt or 

l oor Clfl~a to of it8 8oloctlon, the Countf Deporltorf rhll rxecuto a good bad ruf’liolent 

bond, pqablo to the County JuQgs, ln amount 

l qu@l to Cbo prohblr uount of l ?allabXo 

S&o01 ?und, vbloh UJ k on doporlt at my 

en. tlmo, utd of tho pomaaoat Couat~ Fund, 

to bo ortiutrd by the Countr Buporlatmdeat, 

oc Carpi88l~on~ Court ln a ootatr bylag no 

suporlatMd8nt, and 8tlall be conAltloaad that 

thr depomltory vi11 faithfully perfom Lt8 

dutlor undo? thlo title, and rrfrly koep ati5 

faithfully dirbuno the School Fund l oooc dla g 

to fmv, anb pay ruab vbrrbntr a8 M# be drrva 

QI uld fund bl oapatmt l uthorlt~) prorl&d, 

In 110~ of raid boa& rueb doporltory mar 80- 

ours bald bobool Funda ln the 8a80 Manor aa 

Im nov rorldod bl Iav for qwlificrtlon as 

CouatJ is po8ltory. 

%a* 1-A. la the ovont deporlcork8 

hare boon roloatsd bt the time of bdO$'tiOtt 

of tho aboro prer%,rlm, roeb doposltorlor u), 

at optian, uouun ma14 Uchool hrnd br l gp?ovo4 

rocurltlor otbor than by powma bond. 

Artlolo 2824 ruthoricor raoh oountr to roll or dlr- 

~080 OS the lamb gwtod to it Sor odueatianal vurpo8e8 

and imost tho p~~ceedr thawof la bondr of tho tw r-clflod Cboroln. 
O\P 8iQv.r Ceet hd thlm qrurtla kiaro it %n Uw 

oano U Xomvnor ve Couaty of Wlvmmton, 73 9.x. ~16, 11 8.Y. 

%o have not found w 0-u ~orl~lon 

of mo rtatatorvhloh8ako~ mo OOuntJ tlwA@lwo? 

~Nmtmalmn Of tan mmou?ltlom bmlmaglq to tb 

p?Mamntmmhoml?ua&. ButholrPoqulPodbf8Ptlolm 995 tmbopmn mmoountmf 'tbm dobtmdum 

to an4 fkom hlr oouae, to Qinot peououtlonr 

dooordl4to law fornowory of all dmbtm that 

Ipbo am hlr e0un~,urdrn 

s 

rlnkad ale-‘ool+ 

lootioa tbxJoof'. &tlelo nqulPo8 hl8 to 

Vopmrtthm dobtm4uato - omunty tm thm Oa8im810nem1 Oourt, ad tbo moxt l mmoaodlng me 

tid@ 8-w8 -8 lUt&U 

2r' 

'Ro au3.l &llTU 

tb Wn8y8, morurltlmm, 

ti th@ 

all emu mprtq 

OOBSitJ ilthimaldr -*tOhi 8W6088oT 

la offia~* niama rsUml.8 mPm l afYi8loattm 

a h oa v m vo mink ma t lb vu l 08to mp l8t ma t o d tb ooun~ t?euuPoP &mile br the l \utdl& 

of mo DoouPltlo8bolaglagto me mhoelt~ 

of ma umy.' 

(Artlolmm 995, 996 rod 997, mborr ?m?mFrmd to 

mo court hwo ken bra 

17l.l and ins, lltrO.b., 1 

ttorvu4 % 

.) 

l m&tlmIom 171, 

If &O 8kttlkS -lath0 t0 fb OOUDW dO~8itOFJ hW0 
Eonor4blo R. 8. uyollm - pmg4 4 

IlOt ohqpd th4 1bV tith 3’08~0t t0 th4 OUStw Of SUOh 84- 

oWitfO8, thM th0 4bOVO-qUOt46 holdlag UI8VOPS OW qUt#tiOD, 

for the St4tUtOS Qit4d by the court m Still it~ cfftat. 

m8 qUO#tiOD VOS bOfOrS this d8p8hnmt in 1931. Ve 

quot, the folloving fPOm L letto? o~S.~lon of June 9, 1931, 

to Honorable 8. W. 1. ~WZ’S State Superintendent of Publlo 

~nStIWOt1Oll (vol. 32, Q. 344)t 

“It i8 OW OQilliOtl . . . th+t”tht ttXl8 

'fund8 $8 8ynonylsoUa vith tbe krm 'mon4j' 

*I used in thi8 OOnnOCtiOtY . . . The term 

ëfund8í l Vida Sitlj CCLIttl&MteS, U U84d in 

th4 St4tUt48 Ttl&tiVO t0 ‘the OOUDty dtpositOl'p Of SChOO1 fUDd8, 8OI&.~h1~ t0 b4 pl804d 

vlth me ba& vhloh Ifill own lilttre8t OD 

the entire 4mouztt. In th18 OOmSrOi&i S@, 

it VOtid b0 ridiOtiOU8 t0 @84trt that 4ny 

b&z& vould paylntmecrrtto the county for 

the jmlvlle 

Clll'iti48 Kh Y 

Of holding bond8 4r other 84- 

Oh it Ta8 Dot .fl’44 t0 $411 01‘ 

dispo8o Of Mb tbU8 Wk4 money for it44lf. 

The act Is based upon the well knovn f4ct 

that bsnk8 OM ltnd arOa4y deposited vith 

tlxm ad 4~11) Interest, snd thay are In 

turn olmrgsd With tht US0 Of th4 ln~rtey 

plraod with them, whkh they in turn ~84 

in the bsnking bUSilbS88. 

(I 

. . . 

" 

. . . . Lou we adrlmad that the cwt&y of tht bon&and Other MOUr~tiOS NP 

resenting ~ilNtStarellt8 Of the POI'mMtnt Sohool 

FuaG, in sty OpiDiOD, VOtid ti with the OOUnt$ 

trtosurtr of tit county. By Artiole 1712 

th18 oPfiol(Lt ir, requlrdd t0 deli?eP to hi8 

8UC04880~ IlOt OtiJ th4 lnOD4~8 OF 0-l’ POP 

trty of the oounty in his hands, but a80 

th4 StCIX’iti48. tI18 gewral bond OOV4PS .. 

hi8 P44pOnslbLIlty rOr SUOh 84CUPiti48. Kelap 

nor v. County of Omlromten, 73 Tax. 216." 
‘, ,( 

* “.‘.. 

~onoralo 8. 8. uyOh4 - w 5 

It Is out oplnlon that the popmr oon8tmotlon or 

tQm 14~ 18 4naouno4d in the above-quoted o~lnloa. 

e18 OODOhSi0tt 18 fWtir i.w Od M l XWM tlOD Or 

tax4 l tdUtOB th4nm4lvbm. 

&Mole 2547 la provt&lag for tbo 8wmtJ bonds or 

6OUD+Q dO~BitOPiO8 mW1d48 tbd thOJ Ihti k in M (Lmount "4quU to tii4 crmtlt8atod hlghort dally bal4no4 0r 

#U&h OOUn~ W dettrmiwd w t& cOEd8~iOItO~8 COU’t, 

8U4h l atim&t4d dally belanoe t0 b4 L.B tr0 OVOnt 1488 than 

StVttlty-ihO FOP Otnt~~oi the hQhO8t drily balenot 

6f Stid oounty for tho next preoedlng par, 1488 the amount of bond funds ncolrod md trptndod, provided, hovover, ID tb4 tYOnt th4t eOUTitY fU.ttdS derhod fi0m tht 

S&4 Of OOUQ~ 84OUJ’itit4 during th0 krm #UC& bond art 

dtporltod, l u0h C0~~l8810~4~8 Court shall Mqulra a&&itimRl bond e&/or bODd8, Uxd/Or &hit@ Or 8eouritle8 

4QI.u t0 tbs WIIOIIDt Or SU0h 4dditiOnti OOWIe hrad8." 

(daphP818 Supplied) 

Artlole 298 ~OvideS In vwtr 

"Uhentwr , piter the croatloa of 0 

oouattty depository, AS by th18 &t ~ovidtd, 

there ohall 4oorut to 

dlvlsiw theroo~, any 

the aountg w My SubiUnd8 Or !nQtttyt fPom 

._ _ ._ 

the S&t4 Or DOWiS W OUlWVlSO, tll0 CowriBtiiOml.8 cOUl@t Or muoh OOUDtr at it8 fir8t 

lssdtlng UtW SU4h BP4OiCi rUDd8 &a h4YO 

OOStO into th0 TrOaSUTJ, Or dtpO#it~ Or 

D& t OOMty, 0í2 80 l dOD th4P44ft4P U Ouy 

bo prMtiooua,tBv mko VrlttendOmand 

upon the dul7 uaoredit4d 4ad l Bt&blISh depO#itorJ 4r th0 COUnw for l 89801a aitiord bond 08 BU4h dOpOSitOF7 ia l *Um 4- 

QU.Sd t0 the KhOlt SAIOUtIt Or SU4h 8~401a 

fu0d, t0 bt kept in rOrO4 SO ~OD# (LB #U&I 

fund8 ma&in In such 6tpaSitory. 

It i8 88~1 1~ thy rlr#t X&UCO %tit tb4 SW4iQ bond 18 

to bo o f a ~ mo unt l qu&l to the "48tlmakd highest dally 

baliU30eq. It Ia our opinion that t&4 vord "balan04' oon- 
Eonoreble R. 8. Wyoho - PW 6 

. 

aoo~unt where roaoys may be deposited 

md lllthdrawn on rrsquent ooosslons. In the seoond pl&oo* 

It Is obvious that the surety bond Is sot to oover ssourlties, for provIsIon is mede f6r 8th bdditional bond to oover 

sddit1oas.l funds realized from the ssle o? seourltles. 

It would bb lncon 

to be In the oulltody OF 

UOU8 to ray that the seoupltles sre 

the depwltory tr the surety bond 

under the law does not make provIblon to oover then. HUBIripal bonds we negotiable ln8trument8, and the title to 

moot bonds passes by delivery. It IS our opinion that the 

Legislature did not Intend that county-ovned securltles 

should be plaoed In ‘the oustody 6f the county depoeltom. 

This Is evident from the requirement that the oounty deposltory’must furnzsh an addltlonel surety bond to cover 

sdditlonaJ funds realized from the ssJ.e of recurltles and 

deposited wit& the depository. 

You er6, therefore, advised that it is the opinion of 

this’ department that the curtody of bonds owned by the oounty 

permanent school fund 1s properly vlth the county treasurer, 

and not the county depository. 

You &ek whether the omnlssloneral court has the authority to require an additlonsl seourlty bond for the safieReep 

lng of these bonds. Your attention 1s directed to Article 

1704 which provides that the oounty tZ4asureF shall give b-’ 

bond payable to the oounty judge, to bt approv’ed bg the eon+ 

nls4~on4rrt ootirt "in such sum is suoh oourt may deem neoesk%& 

Artlele 1705 provide8 that the ootmnlssIonerst oourt, 

It considers the bond or bends losufflolent, shall 

require such treasurer to give another bond or bonds or en 

sddltlonel bond or bonds. Thlr authority is impi for the 

court to require an additIonal bond If it determines that 

the preeent bond IS lnsufflolcnt. 

Vtry truly youra, 

/ L---‘ - 

GUS-bv 

APPROY E 

r 

OPINION COYMll

, _” /I-+: