CHAPTER 78. FUNDS, PUBLIC. Section numbers to notes refer to the Revised Statutes of 1914 and sections herein. [Acts 1919, p. 79. In force February 28, 1919.] 7507a. State council of defense, act of governor legalized, appropriation.-1. The action of the governor of Indiana in using the credit of the state in the borrowing of the sum of one hundred thousand dollars ($100,000) for the payment of the necessary expenses of the Indiana state council of defense is hereby made legal and binding upon said State of Indiana and a valid obligation on the treasury of the state; and that the several acknowledgments of indebtedness issued as evidence of such obligation are hereby made a legal, valid and binding lien upon the treasury of the state; and that there is hereby appropriated out of the general funds of the state the sum of one hundred and five thousand dollars ($105,000), which shall be applied by the auditor of state, at the maturity of said acknowledgments of indebtedness, to the payment thereof, with interest then due thereon, by warrants on the treasurer of state. Section 2 provides that the above act shall be in force and effect from and after its passage. [Acts 1919, p. 43. In force February 18, 1919.] 7507b. Donations of public money for war work or patriotic purpose legalized.-1. Any and all assessments, contributions, appropriations and donations of public money heretofore made to any county council of defense, the national and local Red Cross organizations, the Young Men's Christian Association, the Young Women's Christian Association, the National Catholic War Council (Knights of Columbus), the Jewish Welfare Board, the War Camp Community Service, the American Library Association, the Salvation Army and any and all other patriotic and philanthropic organizations and for any other war work or patriotic purpose, whether any or all of such assessments, contributions, appropriations or donations were paid out of available funds in the county, township, city, town, school city or school town treasury or out of funds borrowed for that purpose, and whether paid directly to any of such organizations or for any of such purposes or indirectly to or through the United War Work Council or its agents; and any and all money borrowed by the fiduciary officers of any county, township, city, town, school city or school town for any of the purposes hereinbefore enumerated; and any and all obligations of any such county, township, city, town, school city or school town issued to secure the repayment of such sums of money so borrowed, whether in the form of notes, bonds, certificates or other written obligations and evidences of indebtedness, and whether held by the original lenders or by their assignees, heirs or personal representatives; and any and all county, township, city, town, school city or school town warrants issued; and any tax levies made to secure funds for the repayment of such sums and any and all acts, orders, meetings, proceedings or determinations of any county, township, city, town, school city or school town board or officer; any and all instructions issued by the state board of accounts; and any and all other matters whatsoever, when done in good faith, and when calculated to further and promote any of the purposes hereinbefore enumerated in this act are hereby confirmed and declared legal, valid and binding in all respects whatsoever. Section 2 of the above act provides that the act be in force and effect from and after its passage. [Acts 1919, p. 117. In force March 10, 1919.] 7507c. Expenditures of public funds necessitated by war legalized. -1. Wherever in the State of Indiana the extraordinary conditions arising out of the late European war necessitated the expenditure of any sum of public money in excess of the amount or amounts as now fixed by law and such sums were paid and laid out by a duly elected or appointed officer thereof and for the use and benefit of any political division of the State of Indiana within which any such officer was then serving and for the construction, maintenance and repair of public highways, the boarding of prisoners confined in county jails and the support and maintenance of children kept in public orphan asylums, when made in good faith, and to carry out any of the purposes or to defray any of the expenses incurred for such purposes and have been or shall hereafter be approved by the state board of accounts are hereby declared to be legal expenditures and valid and binding in all respects whatsoever; and any and all orders, acts, determinations or proceedings of any county council, board of county commissioners, township trustee, township advisory board, county sheriff, county highway superintendent and any board or officer charged with the administration of public funds and for such purposes are hereby declared legal, valid and binding, provided that no allowance shall be made for payments made of more than sixty cents per day for the boarding of each prisoner confined in county jails. Section 2 of the above act provides that the act be in force and effect from and after its passage. There is no appeal after review by the circuit court of the action of board of finance of a school town in refusing to approve bond of depository. Board of Finance of School Town of Port Fulton v. First Nat. Bank of Jeffersonville, App. 124 N. E. 768. 7531. Deposits of funds, statements. Construction of the statute providing for the selection of depositories for the deposit of public funds, and when officers may be compelled by mandate to select a bank or trust company as a depository for public funds under their control. State ex rel. v. Board of Finance, 181 Ind. 365, 104 N. E. 756; State ex rel. v. Swanson, 182 Ind. 582, 107 N. E. 275. 7532. Requirements as to depository-Bonds. The provisions of these sections, so far as applicable, must be read into a bond executed by a depository. Equitable Security Co. of St. Louis v. Board of Finance of Jackson Township, Hamilton County, 186 Ind. 650, 117 N. E. 860. 7536. Proposals for funds, interest. Interest accruing on ditch funds deposited by treasurers in depositories belong to the county fund. State ex rel. v. Scheiman, 179 Ind. 502, 101 N. E. 713. See note to section 7538. 7538. State depositories-Finance boards-Record. In view of this section and section 7536, where a bank has been designated as a township depository, but failed to file a new bond, it divested such bank of the character of a depository for future deposits of the township, but the bank is liable for deposits of funds made during the previous two-year period covered by the prior bond, and such liability continues until such funds are paid to the township on its order. Equitable Security Co. of St. Louis v. Board of Finance of Jackson Township, Hamilton County, 186 Ind. 650, 117 N. E. 860. [Acts 1919, p. 698. In force May 15, 1919.] 7542. Several depositories, maximum deposits.-21. When two (2) or more banks or trust companies in the same county, city, town or township, propose to become depositories of the funds thereof and offer the rate of interest provided for herein, it shall be the duty of the board of finance of such county, city, town or township to select, impartially, as many of such banks or trust companies for depositories as tender satisfactory security for such deposits: Provided, That maximum amount of deposits to be made in any depository selected by one (1) or more of the boards of finance created by this act shall not exceed the sum of five hundred thousand dollars ($500,000): Provided, That the maximum sum to be deposited in the several depositories shall be awarded among the qualifying depositories in proportion to their capital stock and surplus: and, Provided, That in the event that the depositories qualifying under this act shall not be sufficient in number, the board of finance may in its discretion deposit in any one (1) or more depositories more than the said sum of five hundred thousand dollars ($500,000): and, Provided, further, That all funds of city, town, township and school corporations shall be deposited in banks, banking institutions or trust companies designated as public depositories located within the respective limits of such cities, towns, townships or school corporations, if such there be, which shall accept such deposits of funds on the terms herein provided. In case there is no bank or trust company, within any city, town, township or school corporation, which shall accept such deposits of funds on the terms herein provided, then the funds of such corporation shall be deposited in one (1) or more qualifying banks or trust companies of the county which are most convenient to such corporation, but there shall be no discrimination as between banks of equal convenience outside of such corporation. In case two (2) or more banks or trust companies are designated as depositories the board of finance shall require the officer having charge of the funds to deposit and maintain the balance in each depository as nearly as practicable in proportion to the maximum sum awarded to such depositories, as provided in section seventeen (17) of this act: and Provided, further, That in case any bank or trust company in this state which has been awarded a deposit of public funds under this act, and is designated a public depository shall at any time desire to give up and relinquish such deposit of public funds; or if any bank which has been designated a public depository shall increase its capital stock, after such award has been made and such bank shall file bond or securities for additional deposits proportionate to such increase of its capital stock, then the said board of finance, in whose jurisdiction said bank or trust company is located, shall have the power and authority to order the proper official to draw on the treasurer of such funds for the purpose of making such transfer as may be ordered by said board of finance: Provided, further, That if any bank or trust company shall |