The Farmington times and herald. (Farmington, St. Francois Co., Mo.) 1902-1905, 1903-02-26

Section i0,J29 The state board
of fund commissioners shall invest all
money belonging 10 the 'public
.choO fund" and to The "scminary
fund.- that has accumulated or may
hereafter accumulate in the state
treasury, in registered county, munich
pal or school district bonds Of this
state. at not less than par value, and
shall at all times keep said funds 50
invested rs far rs possible, When
ever said board shall contract with the
holder Of such bonds for the purchase
thereof the bonds shall be delivered
to the state treasurer aud certificate
Of that fact filed with said board, aud
lhrrcupOn rCquiSitiOn shall be made
hy the board Of fund commissioners
upon tn" State auditor for warrant
upon the State treasurer, payable
out OF the fund for which The invest
mcnt $ to be made. in favor OF the
holder of such bonds, for the purchase
price agreed upon between him
and said board The board Of fund
commissioners shall enter in full upon
IT, records description Of all bonds
purchased tie parlicula fund out OF
which the bonds were purchased
the person from whom the said
bonds were bought, the price
paid therefor, and the date of the
transaction, and shall also require the
state treasurer to give u receipt for
laid bonds, which shall be filed with
he state auditor.
Section 1880. The treasurer
shall he the custodian of the certificates
indebtedness Of the State to the "public
school fund.- aud of the certificates Of
indebtedness of the State to the sem
mary fund" aud Of all renewals th"rc-
Of, and Of all registered county, mu.
ncipal or school district bonds Of this
State in which the "public school
fund" or the "Scminary fund shall
he invested, aud also Of all money be
longing to either OF said funds; and nc
money shall be paid out of said funds
warrants drawn by the state auditor,
in accordance with acquisitions made
by the board oi fuul commissioners,
Is hrrinbeforc provided,
Section 1851 The state trcaSur-
or, whenever any county, III lnicipal
school district bonds shalt be pur
chased by the board of fund commi,-
,ioncrS and payment shall he made
therefor, shall plainly stamp on the
( zee Of each of said bonds these words
"Ihs bond is the property Of the
safe school fund, - or "Ghs board is
the property of the State seminary
fund, ~ according as said bond may
be purchased out OF the "srhool fund.-
or the seminary fund, and sha !
sign said statement, and thereafter no
bond 80 stamped shall he negotiable,
but il shall only be payable 10 the
state treasurer. aS the custodian of the
"public school fund" ar SEMINARY
fund The interest on such bonds,
when due, shall be collected by the
state treasurer and credited to the
proper fund, and the payment Of such
interest certified by him to the State
auditor. The state auditor shall keep
an account Of all bonds purchased by
the fund commissioners and turned
over to the state treasurer, the rate of
Interest theron and date when said in.
tcrost is payable, and shall keep n
proper account with the treasurer in
reference thereto; and the board OF
fund commissioners shall cause TO | g
certified to the auditor n statement of
all purchases of bonds made by il un-
der the provisions of this act.
Section 2. 1t being important to
provide at once for the renewal of
said certificates of ini ,b,cdncss as
authorized by the constitutional
amendment adopted ut the last general
election, and for the Investment Of the
moneys belonging to said funds, and
there being no statute in force author
2ing same, an emergency has arisen
in the meaning of the constitution,
and thi, act shall take effect and he in
force from and after lis nasaare