The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1913-05-08
SCHOOL FUNDS
Not Definitely Settled What to Do
With Them
AN OFFICIAL OPINION
Attorney General Thinks Board Can
not Designate Depository to
Highest Bidder
COMMUNICATION NO. 2
Board is Likely to Investigate Fur
Their Before Reaching a
Definite Decision

The matter of allowing the banks
of the city to bid for the privilege of
handling the public school funds has
not been definitely settled AS recorded
in former issues of The Herald, c. NJ.
Board of Education, at its meeting to
organize after the Spring election, in
which he suggested that the Board
take action looking to bringing about
that result. The secretary of the Board
OF Education wrote the attorney gen.
eral asking for an opinion on the sub
.iect. That official, after giving the
matter due consideration, replied that,
in his opinion, the district is not per-
mitted under the existing law, to place
it's funds in that manner.
The gist of the attorney generals
opinion was that, inasmuch as this is
"a special district and the law does not
make any statement authorizing such
use OF the funds, the Board of Educa-
ton is not permitted to take such &C
ton. At the May meeting another COM
inunicatiCn was sent to it by Mr..
Sprague. This communication is as
follows: -. .. IL
Sank Centre, April Goth, 1913. The
Board of Education of the Town of
Sank Centre, Sank Centre, Minnesota,
GentIemen:-
THE Attorney Generals office has
furnished me a copy of the opinion
covering your inquiry as to the author
ity vested in your Board to designate
q depository in which the school funds
shall be placed SO that the same might
draw interest upon daily balances
Il presume that the Attorney Gen
era! Or his assistants have carefully
examined the law and correctly con-
strued the same and that you are not
authorized to designate such depos-
itory. But if this is the law, it would
seem to me, that there has been an
oversight in drawing the law (Chap
322 G. l.. 1909 so as not to include
special school districts, as we'll as
common and independent districts.
- think that any one who is inter-
ested in the welfare of our school dis
-trict will admit that it is good thing
to have any school funds that may be
on hand drawing interest on daily bal
ances. 1t would seem to me that this
matter ought to be kept in mind and
try and have the law changed so as to
cover this point.
nut, upoh a lCduih6 VI IAC
Attorney Generals opinion, do not
see anything preventing the school
treasurer from depositing the funds so
as to draw interest upon daily bal
ances for the benefit of the school dis
trict I think that this ought to be
done ia the interest of the taxpayers
and l think your board ought to give
the same publicity to the business that
comes under your control that is given
by the Common Council of the City of
Sank Centre in city matters. That is,
have your proceedings published in the
Sank Centre Herald so that the people
may Judge as to whether proper eco
nomy is being used in the transaction
OF the districts business AS a mere
business proposition it would seem to
me that this would be good thing
to do.
Regarding payments of interest
upon daily balances, if your board and
treasurer can see the way clear to