Echo de l'ouest. [volume] (Minneapolis, Minn.) 1883-1929, 1903-05-01

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and shall have power to sue and be sued
by Its corporate NAME, and in such name
to acquire or receive, by purchase, glft'
real, personal, or mixed, and the same to
hold, sell, transfer, mortgage, convey.
loan, let, or otherwise use in ACCORDANCE
but said corporation has no power to d.
vert any gift, grant. or bequest from the
specific purpose designated by the donor.
Section 2997. Whenever the charter OF
or lodge of Ancient and Accepted Scot
fish Rites Masons Of the Southern juris-
diction of the United States, shall be sur
rendered to or taken away by said grand
lodge, grand chapter, or grand command
cry of this state, or whenever by the
laws and usages of said orders such sub
ordlnate lodge chapter, or omman oer
ers of such lodge, chapter, or c~ommandery
shall cease and determine, except that
such corporation, as such, shall have
property, and collect debts due it, and
all such property and debts shall be de-
livered up to the grand lodge, grand chap
ter, or grand commandery Of this state;
or, in the discretion of UGH grand lodges,
be disposed Of in accordance with the
laws Of said order.
Sec. 2. This act shall take effect and
be In force from and after its passage.
Approved Feb. Is. 1903.
CHAPTER 18Th. F. NO. 6.
AIN AL pIOVlOluS lI1dC VllldSeS, Uo1>
oughs or cities containing a population
Of ten thousand 100000 inhabitants
or less, may designate repositories for
village. borough, or city moneys and
or city moneys in such repositories, and
exempting the village, borough, or city
treasurer from liability for such de
pOsits.
Be it enacted by the legislature Of tie
State of Minnesota:
Section 1. The common council, or n
body answering thereto. Of the several
villages, boroughs or cities containing. a
population Of ten thousand 10000 IN
habitants or less, in this state, whether
organized and created under any general
select and designate as a depository or
repositories for village, borough or city
moneys, any national, state or private
bank or banks. Such repositories shall
and sufficient bond, with two 90 or more
sureties, in at least double the amount
of the sums deposited and to be de-,
posted, such bond to be executed to, and
in favor of, the common council, or any
body answering thereto, of such vii
lage, borough or city, and for the use OF
to be approved by the aid common coun-
Gil, or any body answering thereto, and
such common council, or any body an
sWering thereto, may require all or any
eys, as they may. direct from time to time,
to be deposited by the village, borough
or city treasurer in the depository or de-
Such ank Of banks shall be designated
by such common council, or any body
answering thereto, in such manne as
they may deem best.
Such common council, or any body
answering thereto, shall also have power
to make such terms and conditions as to
deposits as to them shall deem for the
best interests of the village, borough or
Provided, that the length of time Of
such deposits, shall not exceed the term
Of office Of such common council, or any
repositories may be selected from time to
time as the common council, or any body
answering thereto, shall decide.
And provided further, hat all such des-
ignations Of repositories shall be in writ
ing, setting forth all the terms and con-
ditions of the deposits to be made in
president and recorder Of such common
council, officers or members performing
similar duties Of any body answering
@hereto, fol any such Village, borough or
office Of the clerk or recorder Of n such
village, borough or city.
That thereupon such bank shall become
a legal depository for village, borough
or city moneys, and thereafter the treas
urer Of any such village, borough or city
shall deposit such village. borough or city
from time to time to 1ies1 by such
common council, or any body answering
thereto.
Sec. 2. The village borough or city
treasurer and the sureties on his bond
shall be exempt from liability to the
village, borough or CITY,. by reason Of
the loss Of any funds of such village,
borough or city deposited in any such
bank, from the failure, bankruptcy or
! other acts Of such bank, to the extent and
amount Of such funds in such bank at
the time Of such failure or bankruptcy.
Sec. 3. All interest on moneys deposited
as ~hereinbefore provided, shall be and be-
come the property Of such village. Dor
ough or city.
Sec. 4. This act shall take effect and
be in force from and after the first day
| of May, 1903.
Approved February 20. 1908.