Daily globe., 1879-03-22

teachers and all other employees Of the said
board; but in no instance. shall the said
board be allowed to borrow 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 tho 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-
-penditnres as required by the. annual tax
levy estimate, to pay interest on the bonded
debt, salary of teachers, fuel, printing and
stationery, general expenses, and bonds ma
turing for which taxes are annually levied.
The funds for which q 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 greater rate of interest
than ten (1O) per cent. per annum, payable
semi-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
pr oceeds. "a
The city comptroller shall at all times have
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and accounts of the treasurer of the board
between the said treasurer and the said
board, giving the said treasurer a 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 80 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.
BE shall countersign all bond warrants
of indebtedness of the said board, and shall
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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
countersigned by the city comptroller, after
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Office of the said comptroller.
The proceedings of all regular and special
meetings of said board shall have one (D
paper poo Of the citv Of S Saint Paul, to oA'ly be
together with all additional job work and
printing, shall be paid at a rate not exceeding
the sum paid by the city of Saint Paul
Any vote or act of any members of the
board of education, or of the
treasurer, secretary and all other
officers Of the said board, together with the
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 e1-
ceeding five hundred dollars $500 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 (25) 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 eshall make q 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.
Sec. 8. All acts and parts of acts contra
vening the provisions of this act are hereby
repealed.
Sec. 9. 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
seyenty-nine (1879).