Daily globe., 1879-03-22

OOhGO Uub III no 1u8L80C0 snail the said
board be allowed to boSrow money for any
OF the said purposes unless the funds in the
treasury are SO depleted as to warrant the
same. Furthermore, the said board
shall not have the power, and
is hereby prohibited from diverting for
any purpose whatever, any money that may
be paid into the treasury from the collection
Of taxes, State school apportionment, or
from all other sources Of revenue, other than
for the purpose of paying the Legitimate ex-
levy estimate, to pay interest on the bonded
stationery, general expenses, and bonds ma
turing for which taxes are annually levied.
The funds for which tax levy must be
made shall be as follows Interest and
sinking fund, salary fund, fuel fund, print
ing and stationery fund, general fund.
No certificate of indebtedness or note for
money borrowed shall be issued unless au-
thorized by two-thirds (255) vote of all the
members elect of the board of education,
and shall not draw q greater rate of interest
than ten (1O per cent. per annum, payable
selni-annually. All certificates or notes shall
bear the official seal of the board
of education, and shall be signed
by the president, secretary and treasurer of
the said board and countersigned by the city
comptroller of the city Of Saint Paul, after
which the said city comptroller shall deliver
the said certificate of indebtedness or notes
to the treasurer of the said board, taking his
receipt therefor and charging him with the
proceeds.
The city comptroller shall at all times have
access to the report, books, papers, vouchers
and accounts of the treasurer Of the board
Of education, and shall adjust all accounts
between the said treasurer and the said
board, giving the said treasurer receipt for
all vouchers for all money legally disbursed;
all such settlements if correct must be ap-
proved BY the board Of education, after
which the committee on ways and means of
said board in the presence Of the treasurer
of the said board, and the city comptroller,
shall destroy all such vouchers SO allowed,
and receipt to the city comptroller for the
same. The city comptroller shall keep
regular books of accounts in which
he shall enter all Indebtedness
of the said board of education.
He shall countersign all bond warrants
drawn on the treasury and other evidences
of Indebtedness of the said board, and shall
keep an exact account thereof, stating to
whom and for what purposes issued, and
shall keep an account with the treasurer of
said board, showing tho amount received
from all the different sources of revenue
and the amount disbursed under the direction
of the board of education. All contracts
and leases shall be signed by the president
and secretary of the board of education and
oountersigned bv the city comptroller, after
which the same shall be kept on file in the
Office of the said comptroller.
NI-s.~ =
meetings of said board shall have one IL
publication in one O daily
paper of the city of Saint Paul, to be
selected by said board, and said publication,
together with all additional job work and
printing, shall be paid at rate not exceeding
the sum paid by the city of Saint Paul
under the contract for city printing.
Any vote or aat. Of any members of the
treasurer, secretary and all other
city comptroller of the city of st. Paul, made
or done with the wilful intent to evade the
provisions of this law, or to divert the funds
raised by taxation or otherwise to specific
purpose, is hereby declared to be misde.
meanor, and upon conviction thereof, such
officers shall be punished by fine not OK
ceeding five hundred dollars ($5OO) and by
imprisonment in the county Jail of Ramsey
county not exceeding six (6) months. Pro
vided, the board Of education may by two
third (2) vote Of all the members elect, di.
vert money from any fund to the interest and
sinking fund whenever such interest and
sinking fund requires it, for the purpose of
paying the interest on the bonded debt and
the reduction of bonds. It shall be the duty
of the city comptroller to annually submit to
the board of education at their first regular
meeting in the month of August in each year
an itemized report of the financial condition
of thesaid board. He shall make list of all
outstanding bonds, to whom issued,
for what purpose, when and where
payable and the rate of interest they may
respectively bear. The fiscal year of said
board shall commence on the first (1st) day
of June in each year, and the said annual
report of the city comptroller must have one
publication in the official paper of said
board. 'F;e
Sec. 8. All acts and parts of acts contra.
vening the provisions of this act are hereby
repealed.
Sec. 8. This act shall take effect and, be
in force from and after the first (1st) day OF
July, A. D. one thousand, eight hundred and
seventy mine Q879).
Approved March 10th, A. D. 1879.