The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-02-25

which. with the other outstanding in
debtedness, shall exceed 10 per cent. OF
the assessed valuation of such nlunic-
ipaI corporation. Such bonds shall be
delivered to the state treasurer, and re-
ceipted for by him and retained by him
in the vaults of the state treasury Of this
state, and If, in any case or at any time,
such bonds are not satisfactory security
to the executive council for the deposits
made under this act. they may require
such additional security to be given as
shall be satisfactory to them, and said
bonds or any part thereof may from
time to time be Withdrawn. on the writ
ten consent of the executive council,
and they shall from time to time in
spect such bonds and see that the same
are actually kept in the vaults of the
state treasury; provided, that suff1-
Gent amount OF said bonds to secure
said deposits shall always be kept in the
treasury. and in the event that ans
bank shall fail to pay such deposits or
any part thereof on the draft or drafts
or the state treasurer, cOuntersigned by
the state auditor. then it shall be the
forthwith such bonds into money. and
discourse the same according to law
upon the warrants drawn by the state
auditor upon the fund for which said
bonds were security. Any bank making
deposit Of bonds with the state treasurer
under the provisions of this act may
cause such bonds to be indorsed or
stamped as they may deem proper, 50
collateral, and are not transfera bic ex-
cept upon the conditions of this act
Section provides the executive coun-
Gil may require additional bonds when
ever they deem it necessary for the pro-
lection Of the state.
Sec. g. The making of profit by the
state treasurer out of any moneys in
the state treasury, the custody of which
the state treasurer shall be charged
with, by loaning, depositing or other
wise using or disposing of the same in
any manner whatever. or the removal
by the state treasurer. or by his consent.
or such moneys or any part thereof. or
any bonds deposited by any bank under
the provisions of this act, out of the
vaults of the treasury, except for the
payment OF warrants legally drawn or
for the purpose of depositing the same
in the banks selected as repositories IN
der the provisions of this act, or for re-
turning or disDOsing of said bonds ac-
cordIng to law, shall be deemed fell
ony, and on conviction thereof subject
him to punishment by imprisonment in
the penltentiary for term of not less
than two nor more than five years. and
he shall also be liable under and upon
his official bond for all profits realized
from any such unlawful using of said
funds; and it shall be the duty of the
attorney general to enter and prosecute
to final termination all suits for a VIC
latlon of any of the provisions of this
act
Sec. 9. The state treasurer shall not
be responsible for any moneys deposited
in the banks under the provisions of
this act While the same remain there de-
posted, and the state treasurer shall be
chargeable with the safe keeping of all
bonds deposited with him as security
for the deposits of state moneys. and
with the proceeds arising from any sale
thereof under the provisions of this act:
and his sureties on his official bond shall
be held liable for any default in the
faithful performance of any duty re-
quired of said treasurer under or by
virtue of any of the provisions of this
act.
Sec. 10. If any member of the exec
utive council neglects at any time to do
or to perform any duty required of him
by this act. he shall be deemed guilty
of misdemeanor. and upon conviction
Thereof shall be sentenced TO pay a fine
of $1,000"