Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1919-05-01

attorneys, c.srks, accountants and
other experts, agents and servants, as
he shall, in his Judgment, deem are
required by the interests Of the Bank.
The total compensation of such ap-
pointees and employees, together with
other expenditures for the operation
and maintenance Of the Bank, shall
remain within the appropriation and
earnings lawfully available in each
year for such purpose. All officers
and employees of the Bank engaged
upon its financial functions shall, be-
fore entering upon their duties. re-
spectiyely furnish good and sufficient
bonds to the state in such amount
and upon such conditions as the COM
mission may require and approve; but
the bond Of the Manager shall not be
less than fifty thousand dollars. Such
bond shall be filed with the Secretary
Of State.
Section 5. The Industrial Commits
Fsllssl nlsy rsmove and discharge any
and ~ persons appointed in the exer-
else of the powers granted by this
Act, whether by the Commission or
by the Manager Of the Bank, and any
such removal may be made whenever
in the Judgment Of the Commission
the public interests require it; pro-
vided, however, that all appointments
and removals contemplated by this
Act shall be so made as the Commits
sion shall deem most fit to promote
the efficiency Of the public service. !.
Section 6. The Bank shall be OPEN
ed and shall proceed to transact busi-
rass whenever there shall be delivered
to the Industrial Commission bonds
in the sum Of two million dollars is
sued by the state as may be provided
by law for such purpose. The fund
procured by the negotiation and sale
Of such bonds is heraoy designated
and shall be known as the capital Of
said Bank.
Section T. All state, county, town
|, ship, municipal and school district
funds, and funds Of all penal, educa-
tional and industrial institutions and
all other public funds shall be, by
the person having control Of such
funds, deposited in the Bank of North
Dakota within three months from the
passage and approval Of this Act, sub
ject to disbursement for public pur-
poses on checks drawn by the proper
officials in the manner now or here
after to be provided BY law; provided.
however, that on proper showing
made by any official having control
Of public funds, the Industrial Com
mission may permit postpone
ment Of the deposit Of such funds
or any part thereof in the Bank
of North Dakota, the period Of
such postponemsnt not to ex-
ceed six months. And provided, fur
ther that If any such funds are now
loaned by authority Of law under a
contract terminating at future time,
then the deposit Of such funds in the
Bank Of North Dakota shall not be
required until two months after the
time Of expiration Of such contract.
Any person who shall violate any Of
the provisions Of this section shall b.
guilty Of . misdemeanor and upon
conviction thereof shall be punished
by imprisonment in county jail for
not less than ninety days, and 81 a
fine Of not less than one hundred dol
lars.
Section 8. Whenever any. Of the
public funds hereinbefore designated
| shall be deposited in the Bank Of
North Dakota. as hereinbefore pro.
iyided, the official having control there
Esf, and the suretics on the bond o.
every such official, shall be exemp,
from all liability BY reason Of loss d