The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1903-01-15
Senator Parks, Bill.

quiring the State Treasurer Of the
State of Indiana and the several
county treasurers of said state to de-
poSit the public funds in their hands
as such officers in bank or banks Sc
lected therefor and to charge and col
lect from such bank or banks prem
ium on the daily cash balances and
prescribing duties OF such treasurers,
and fixing a penalty Tor any violation
thereof.
SEC. l. Be it enacted by the Gen.
eral Assembly of the State of Indiana,
that from and after the taking effect
Of this act, it shall be lawful for the
state treasurer of the State of Indiana
and each and every county treasurer
of said state to deposit the public
funds in his hands as such treasurer in
the bank or banks offering the highest
premium to obtain the deposits of the
public funds in the hands Of such
treasurer, and to come into his hands
during his term of office; the premium
to be paid shall be based on the esti-
mated daily balances in such bank or
banks, and to be kept in such bank or
banks; and it shall be the duty Of
such treasurer to deposit the public
funds in the bank or banks Offering
the highest premium therefor. All
deposits made by the state treasurer
shall be made in the name of the State
Of Indiana, and all deposit made by a
county treasurer shall be made in the
name of the county in which such
treasurer was elected. 1t shall be the
duty Of such treasurer, before making
any deposit of the public funds in any
bank, to require such bank to execute
a good and sufficient bond with ample
surety to the approval of such treas
urer payable to the State Of Indiana
for the use and benefit of the state
or county as the case may be in sum
equal to one and one-third times the
estimated average daily balances to be
kept in such bank, conditioned that
said bank will faithfully discharge its
duties as conditioned: that said bank
will faithfully discharge its duties as
custodian Of said fund and pay the
same to the treasurer entitled thereto,
or upon his order; but nothing herein
shall be SO construed as to release such
treasurer and his bondsmen from liza
bility upon his official bond fo- any de-
fslcation or dereliction Of duty as such
treasurer; the bond required of the
bank or banks herein shall be regarded
as additional security for the safety of
the public funds.
SEC. 2. 1t shall be the duty of the
state treasurer Of the State of Indiana
to collect the premium provided for in
Section One Of this Act, and when
collected. the same shall Immediately
become part, qf the public funds in
his hands as such treasurer; and it
shall be the duty of the several county
treasurers of the state of Indiana to
collect the premium provided for in
Section One Q) of this act, and when
collected, the same shall Immediately
become part of the public funds in
bis hands as such treasurer.
SEC. 8. Any state or county Of
ficer who shall willfully violate any Of
the provisions of this act shall be
deemed guilty of felony, and upon
conviction shall be imprisoned in the
state prison for period Of not less
than one nor more than ten years and
disfranchised and rendered incapable
OF holding any Office of trust and profit
for a period of not less thar ten nor
more than twenty years.