Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-03-19
81


AN ACT relating to the duties of county treasur-
and the care of the public funds.
Be it enacted by the Legislature of the State Of
Minnesota
Section 1. All the funds of any of the counties
in this State shall be deposited by the county
reasurers in one or more national banks, or State
Or private bank or banks, as soon received, in
The name of the proper county of which the board
Of auditors are officers. Such bank or banks, or
bankers shall be designated by said board of audi
Ors in their discretion, after advertising in one
sr more newspapers published in their respective
:Ounties Tor if the public interests require in one
more newspapers in other counties of the State,
Tor at least two weeks, for proposals. and receiving
proposals stating what security would be given to
laid county [for] such funds deposited and what
interest on monthly balances of the amount dep0s-
ted, on condition that said funds with accrued
interest shall be held subject to draft and payment
1t all times, on demand; provided, that the
amount deposited in any banks, or banking house,
shall not exceed the assessed capital stock Of said
oank. or banking house. as shall appear on the
:ax lists of the counties. Capital stock, for the
purposes of this act, shall be defined as follows:
As including shares of capital stock of national
or State banks, whether assessed in the name of
The bank, or of the stockholders thereof; and as
including the personal property of private banks
or bankers, or the individual members of said
banking firms, which property is liable for the
debts OF said banks OF bankers, and Is assessed
upon the tax lists of any county in this State In
case such property is assessed in counties other
assessment shall be certified to by the auditor of
the county in which the same is assessed, appli-
cation of the board of auditors of any county, and
such application shall be renewed annually on the
first day of January and oftener if deemed neces
sary and such certificate shall be attached to the
bond of such depository.
The treasurer is required from time TO time 10
take notice of any changes III the assessment and
to limit the amount Of his deposits by such
changes in accordance with the provisions of this
act.
Co, Roforo ony pot;onoI Ctata or nrirota
bank or banker shall be designated as such depos-
itory, such bank or banker shall deposit with such
treasurer bond payable to such county and
signed by not less than five freeholders Of the State
as sureties, which bond shall be approved by the
board of county commissioners, and shall be in
such amount as such board shall direct which
amount shall be at least double the amount OF
funds to be deposited with such bank or banker.
1t is hereby made the duty of the officers desig-
mated and also of the board of county commission
of the several counties of the State, to comply
with all the provisions of this act provided that
counties in which there are no such bank or bank
may be exempt from the provisions Of this act,
far it relates to depositing the funds of such
counties with any such bank or bankers, II, In the
judgment of the auditing board and board Ofc0un-
ty commissioners of any such county, it would be
detrimental to the interest of such county to make
such disposition.
. Sec. 8. All bonds required under the provisions
of this act shall be given for the term of two years
from the date of their execution, and shall be re-
Moved every two years thereafter. The boards of
designated under this act or not having statutory
bonds under this act shall advertise as herein pro-
vided for proposals for the deposit of their funds
such proposals to be opened on the first day Of
July, 1881. Bonds of depositaries now legally in
force shall expire on the first day of August, 1885,
But this section shall not be construed as prevent
Ing boards OF auditors in counties having no depos
itaries from advertising for proposals and desig-
mating dep0sitaries at any time when the public
interests may so require.
Sec. 4. The boards of auditors shall not accept,
f1ah aOf oIol1y aOf
as sureties upon the bonds OF depositaries,
the names of stockholders or of owners Of such de-
pOstories unless they satisfied upon full inves-
tgatiOn that their responsibility would in no wise
be affected by the failure of the bank banker in
behalf of which saidstOckholders or owners sign
as sureties.
Sec. 5. No county treasurer shall deposit in any
bank, or with any banker; whether designated
under the provisions of this act or not or in any
other place whatever, any public funds in his own
individual name, or except in his capacity as
treasurer of the county, under the penalty OF five
hundred dollars for each deposit so made.
Sec. 6. The public funds shall at all times be
kept absolutely intact and free from any mixture
with funds belonging to the treasurer private
person or in any other capacity any other per-
firm and all amounts found at any time in any
of the county treasures of the State, or officially
deposited by the county treasurers shall be deemed
public funds and if in excess of the amount prop
erly called for by the auditors and treasurers
books and accounts, shall be turned over by The
board of auditors of said county, or by the public
Sec. Z. All payments by treasurers Of counties
having designated depositaries at their county
seat, and by all treasurers as far as practicable,
shall be made by checks upon the depositaries.
Each depOsitary designated under the provisions
of this act shall furnish the auditor Of the county
to which the funds belong true and itemized
statement of the treasurers account on the first
day of each month, which statement shall be filed
and carefully preserved in the auditors office.
All sums of interest accruing upon the funds de-
posted in any bank with any banker under the
provisions of this act shall be credited to such de-
post account ON the first day of each month, for
the month preceding, and monthly statement OF
such interest as computed from the daily balances
by the bank or banker shall be rendered by such
depOsitary to the county auditor on the first day
of each month, and the auditor shall charge the
county treasurer with the amount thereof, and
credit the to the revenue fund of the county.
Sec. s. All acts and parts of acts inconsistent
with the provisions of this act are hereby re-
pealed. Provided, that such repeal shall not be
considered as altering impairing the validity or
obligations of any bonds of depositares now legally
in force except to the date Of their expiration,
as provided in section three of this act.
Sec. 9. This act shall take effect and be in force
from and after its passage.
Approved March 8, 1881.
AN ACT to complete the organization of the