Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1891-05-21

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CHAPTER 213
AN ACT TO provide for state depOsitories and
regulate the deposit OF public moneys therein
and amendatory OF section l57 and l59 OF the
revised statutes OF 1873
The people Of the state Of Wisconsin represent
ed in senate and assembly. do enact as
section I. ANY national or state banking cor
poTatiOn witch shall be approved by a hoard 70 he
known as the Board of Deposit, consisting of
tue commissioners OF public lands and the COVER
/ nor may, upon fling bond as hereinafter pro-
Nded, and upon compliance with all other re-
| quirement OF law. become II state depository
/ me members OF the board OF deposits shall re-
| ceNe no additional compensation by reason Of
| Iae performance OF their duties upon such board
| The records OF the proceedings of said board
| shall be Kept by the secretary OF state and A
duly certified copy thereof, OF any part thereof
shall be admissible a. evidence IN any action or
| proceeding In the courts of this state
! Section2. Every such state depository before
" Snail De entitled to receive any public moneys
shall ME with the ate treasurer good and
| suHcleni BOND, conditioned for the pa Iment np-
on demand, TO the state treasurer or 10 his order
| free OF exchange, at any place in this state
! designated by him, Of all moneys deposited with
| II, and of interest thereon. at the rate fixed bV
said board OF deposits with not less than five
sureties, residents and free holders OF this state
who shall, together be worth in property within
/ this tate not exempt fr IN execution ever and
above their debts and liabilities double the
/ amount Of the penalty OF said bond, and each OF
whom shall be worth not less than ten thousand
dollars. and who SHAH Justify such responsibility
/ by their several atiidaYlts; which said bond and
sureties shall, before such fling have been APP
| proved by the board of deposits
Section 3. The board Of deposits shall from
me 10 time. fix the rate Of interest 10 be paid by
the state depasttories upon state moneys de
/ posted with them, and cause notice thereof to
I be puDlishedin the official state paper. The
| rate OF interest, until changed by the board or
deposits, shall ,oe two and ouehaf per eentum
/ per AMMAN.
Section 4 The state treasurer may deposit
with any such state depository which has fully
| complied with all requirements Of law any 1ub-
lie moneys in his hands or under his Official
| control, not exceeding the limit prescribed by
section 3, OF This act and any sums SO on deposit
| shall be deemed TO DC in the state treasury aud
| the state treasurer shall not be liable for any
loss thereof, resulting from failure default OF
| any such dep lsitoFy and without fault or neg
ect on the part Of said treasurer. his assistants
| or employees.
Section The amount at any time on deposit
| with any state depository shall not exceed The
actual paid mp capital of such depository. nor
one half OF the penalty OF the bond died by il in
accordance with section ?; nor shall II exceed
the amount prescribed by the board of deposits
| II any be prescribed
Section 6. The board OF deposit shall not ap.
prove the bond OF and such cor poration until the
members OF said board shall be fully satisfied
both that said bond Is good aud sufficient and
that such corporation is prosperous and financi-
ally sound, and has. unimpalred. the paid uD
capital claimed bY IL. And the board OF deposits
may at any time require any state depository to
furnish new or additional bond, and may at any
time revoke their designation and approval OF
any state depository; and Immediately upon such
revocation such corporation shall cease to be
STATE depository. aud the treasure. shall immed-
lately withdraw all public moneys therefrom
Section Z. Every state depository shall on the
nrst day OF each month, and oftener, when re-
CURED a. with the Secretary of the state a
sworn statement OF the amount Of public moneys
deposited with IT, Each state depository shall.
also quarterly, within ten days after the first day
OF January, April, July and October, OF each
year, make full statement OF all deposits and
payments Of public moneys during the preced.
ing quarser together with a computation and
statement OF the interest earned thereon, com
puted upon The daily balance on deposit who he
interest," shall thereupon be added 10, and be-
come part OF the deposit balance such statement
shall be accompanied by an affidavit of the presi-
dent and cashier OF such depository, to the effect
that such statement Is in all respects true and
correct, aud that, except for the interest therein
credited, neither said depository, nor any Off
Ger, agent or employee thereof. nor any person
| In It's behalf, has in any way whatsoever given,
paid or rendered or promised TO give pay or rem
der, to the state treasurer or 10 any other per-
son, any money, credit, service or benefit what
soeVer by reason Of or In consideration Of the
deposit with 1t OF any portion Of the public mon
eys, Any person who shall make any false
statement In any affidavit required by this act,
shall be guilty OF the crime - perjury. The to-
tai interest paid by all state repositories shall be
appouioned by the state treasurer amonz, and
added TO ana become part Of the following
funds, 10 wit: The general fund, the school
fund. he school income fund, the university
fund, the university income fund,
the normal school fund. the normal
school income fund. the agricultural college fund
the agricultural income fund according To the
average amount Of esch such fund on hand the
first dsy Of each month.
Section g. ANY person who shall give. pay or
render, or promise or offer to give pay or rem
der % any state treasurer or 70 any other person
any money, credit service or benefit whatsoever
except as expressly authorized by law by reason
of, OF IN consideration Of the deposit, loan, or
f-rbearanc Of any public moneys or funds. shalt
| be guilty Of the crime OF bribery, and shall be
punished by imprisonment in the state prison
not more than five years nor less than one year.
or by hne not exceeding one thousand dollars
(Sl60O) nor less than two hundred dollars tS200l.
And IN any prosecution under this section, no
witness shall be excused from answering any
| question, on the ground that his answer may
| tend to eliminate himself, or expose him TO
| prosecution for any crime, misdemeanor or for
| fixture; but no testimony given shall be in
any manner used against the person 70 testify
| ing IL any other criminal prosecution. except
prosecution for perjury committed in giving such
| testimony.
Section .. Subdivision 2, of section i57, OF the
| revised statutes OF 1878. is hereby amended by
| inserting after the word treasury in the fifth
| and sixth lines thereof the words '.or state de-
| positories," 80 that said subdivision, when so
| amended shall read as follows; TO pay out
OF the state treasury, on demand. upon the
rants Of the secretary OF state, all sums autho-
| rized by law TO be SO paid # there be appropriate
! funds IN the treasury to pay the same and wheu
any such sum il required TO be paid out Of
particular fund, Il shall be paid out - such fund
| only He shall pay no money out OF the treasury
or state repositories, except In pursuance OF
| law authorizing the payment thereof, and he
shall in no case pay any money from the treas
nry, or have credit for any money paid out Of the
treasury, except upon Oh warrant Of the sec
Rotary Of state as hereinbefore provided for; and
| upDn each such warrant he shall take the
| ceipt, endorsed on OF annexed to such warrant,
of the payee therein named, or his authotized
| agent
| Section 10. Subdivision :, Of section 1871. of
the revised statutes Of 1878, is hereby amended
| by Inserting after the word fund. in the
| fourth line OF said subdivision the words land
also what amounts are IN each of the state de-
| post0ries. together with the interest earned
| thereon, so that said sub division, when so
amended. shall read as follows -. TO report
to he governor quarterly. or oftener il required,
the total amount OF fund In the treasury, speci-
! fying In what kinds Of currency they consist,
I the amount Of each kind, and the amount belong
ing to each separate fund, Al also what amounts
are IN each Of the state repositories. together
| with de interest earned thereon, and also all
defalCatoLs and neglect Of duty Of any disburs-
ing collecting officer or agent Of the state. and
any Information pertaining 70 the duties of his
offices he may think proper, OF the governor shall
require.
Section L. Section 157. Of theree,sed statutes
u 1918. IL hereby amended bv adding thereto an
additional subdivision. as follows; ~ To pay