The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1939-09-07
CHAPTER 19549

CHAPTER 19549
AN ACT to amend sections 1859
and 1860, of the revised general Sta
tutes of Florida of 1920 the same
being sections 2404 and 2405 of the
compiled general laws of Florida,
1927. as amended by Chapter 1851,
ing to county repositories and coun-
ty finances. providing that banks
may be county repositories and how
the same may qualify as such, pro-
viding for interest on deposits.
Be 1t Enacted by the Legislature of
the State of Florida:
Sec. l. That section 1859, of the
revised general statutes of Florida
of 1920. the same being section 2404
Of the compiled general laws of
Florida. 1927. as amended by Section
1 of chapter 1861, laws of Florida,
acts of 1881. be. and the same is
hereby amended so as to read as fol-
lows:
''24O4 (1559). ANY bank. national
or state. authorized to do business in
this state which will. as to the var
ious funds hereinafter referred to,
offer satisfactory inducement as to
security; and which will furnish, at
its own expense, surety bond is
authorized to do business in this
state, or make satisfactory deposit
to the credit of the county of suffi-
Gent United States bonds, bonds the
payment of whose principal and in
terest is guaranteed by the United
States. Federal certificates of in
debtedness state. county or NUM-
cipal bonds. for the safekeeping and
prompt payment of such funds, is
hnrnhxy Ar.sz -
county depository for the funds for
which such security shall be furnish
ed and shall be authorized and en-
titled to receive such public funds
in the manner and method herein
after provided. The funds herein
above referred to shall include
county general revenue funds. coun-
ty fine and forfeiture funds, county
road funds. and each and every 9TH
er separate and distinct county fund.
respectively; and shall also include
the general or common county school
fund and special tax school district
funds. the enumeration of said funds
being herein made not by way of
limitation. but of illustration, and it
being the intent hereof that all funds
of such county or of any district or
subdivision thereof. shall be inclu-
ded."
Sec. 2. That section 1860 of the
Revised General Statutes of Florida
of 1920. the same being section 24O5
of the compiled general laws of
Florida. 1927. as amended by Sec
ton 2, chapter 1861, laws of Florida,
acts of 1881. be. and the same is
hereby amended SO as to read as
follows:
''2405 Q56O) Any bank as describ-
ed in the foregoing section desiring
to become a county depository as
herein provided shall file with the
board of county commissioners or
board of public instruction or both
such boards. dependent upon the
character of the funds to be deposit
ed. a surety bond issued by some
surety company authorized to do
business in this state. or make sat
isfactory deposit to the credit of the
county or such board of United
States bonds. bonds the payment of
whose principal and interest is guar
anteed by the United States, Fed
eral certificates of Indebtedness.
state. county or municipal bonds. in
amount to be determined by each
of the said boards respectively and to
be approved both as to amount and
validity by the comptroller of the
state. and conditioned that said
banks insure the safe keeping, prop
er accounting for an payment over
to the proper authority of all money
that may come into its possession
by virtue of its acting as said de-
pository. and further conditioned that
it will in all respects duly and faith
fully perform the duties imposed up
on it by reason of acting as such
depository. Where bank or banks
in the county offer satisfactory in
ducement as to security. it shall be
the duty of the board of county
commissioners or board of public in
struction to designate such bank or
banks. and such bank or banks shall
be entitled to its or their pro-rata
share of such deposits; but in case
no bank within the county should
qualify. then the said boards are
authorized and required to divide
such deposits among the banks in
some other county or counties which
comply with the conditions as to
security provided in this chapter;
provided. however. that nothing here
in contained shall prohibit county
officials from recognizing and ac-