Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08
No. 1873, Al Published July 10, 1907.
CHAPTER 474, LAWS OF 1907.

AN ACT to amend section 693, statutes of
1898, as amended relating to county de-
The people of\the State of Wisconsin, repre-
scented in Senate and Assembly, do enact
as follows
Section i. Section 693. statutes of 1898,
as amended by section 1, chapter 358, laws
Of 1908, is amended to read Section 693.
1. The county board OF every county may,
upon compliance with the conditions here
matter expressed, designate one or
more banks, banking institutions or trust
companies organized and doing bust
ness under the laws OF this state or the
United States, a county depository or Qeposl-
tories. And in counties having popula-
ton of two hundred thousand or over. the
county board shall designate two or more
repositories.
?. Every such bank, institution or COM
pany shall, before it shall be entitled to
receive any moneys, OF any county, ME
with the county clerk, on or before the first
day of December, a good and sgfhclent
the succeeding first day OF January in
such sum as the county board may
direct subject to the exception hereinafter
mentioned, conditioned for the payment,
upon demand to such treasurer, or his
order, of all moneys deposited by him with
it. and interest thereon at the rate agreed
upon as hereinafter provided.
8. Such bond shall not be IN sum less
in such depository, and may be either a
personal or surety company BOND. IN
event said bond is a surety company ooad
the amount thereof shall not exceed TWO
thousand dollars over and above the maxi
mum amount to be deposited in such de-
pOSitory.
4. Such bond, If a personal bond, shall
be signed with not less than three sureties,
residents and freeholders of this state, mo
shall together be worth in property therein,
not exempt from execution and over and
above their debts and liabilities double the
amount Of the penalty of the bond, and who
shall justify their responsibility by their
several affidavits.
so filed, be approved by the county board
or a committee of such board appointed for
such purpose.
6. Before any such bank, institution or
company shall be designated as such deposit
tory. the following directions shall be COM
piled with, viz: every county clerk shall
annually advertise, In one or more news
papers published In his county, or, II the
public interest requires it. in one or more
newspapers published elsewhere In TINS
state for at least two weeks before the
annual meeting Of the county board, for
proposals to receive the county funds on de-
posit for one year from the first day OF the
following January. Said proposals shall De
filed with said clerk at least one Gay pc
fore such meeting of said board, snaIl state
the rate of interest the bidder will pay on
daily balance that such interest Will pc
computed and credited to the county at the
end of each month, and that such deposits
and accrued interest Will be suolecI TO oraIe
no such advertisement shall be made said
board may nevertheless consider any such
proposals regularly filed; but ii no propo.
sal shall be filed the county board shall at
its annual meeting serve Written NOTICE o6m
pany in the county that such proposals will
be received during such session any pro
posals so received shall be considered by
such board After opening any proposals
such board shall. in its discretion, designate
a county depository or repositories. :
nff q
MADE the board SHALL for good and sufficient
reasons deem the security given inS s. 81 ts
oninion. the public interest requires it, may
vacate, revoke or modify such designation esdg
and may at any special session, after giving l 1g
designate a depository or repositories for
the remainder Of the current calendar year,
subject to the approval of the bond as
hersinbefore required.
Section 2 This act shall take effect and
be I'M force from and after it's passage and
publication.
Approved July 8. 1907.