§ 37-29-143. Receipt and expenditure of tax revenues; surety bonds by persons handling district funds.
(1) On or before the thirtieth day of each month, the board of supervisors of each county belonging to a junior college district and levying taxes pursuant to subsection (1) of Section 37-29-141, for the support and maintenance thereof shall transmit or have the chancery clerk transmit its warrant or warrants constituting all of the revenues received from taxation for the prior month for said purposes to the chief executive officer or president of its respective junior college district. All such county warrants evidencing a county's annual income from its authorized tax levy shall be forthwith deposited in one or more banking institutions and public depositories previously selected by the board of trustees of the junior college district and spread upon its official minutes. The board of trustees shall, by appropriate orders spread upon its minutes, authorize its chief executive officer or president to expend such funds for lawful purposes only and in accordance with its annual budget previously adopted.
The board of trustees may require its designated employees, including its president, and fiscal agents to enter into and file with the president of the college a surety bond to insure the faithful performance of the public duties of each officer or agent who is authorized to receive and expend the funds of the district. Such bond may be of such denomination and conditions as the board of trustees may deem necessary and requisite, and the premium thereon shall be paid from the funds of the district.
(2) All funds derived from such taxes as are provided for in subsection (2) of Section 37-29-141, shall be paid into the county depository of the county in which the junior college is located, upon receipt warrants of the chancery clerk of said county. Such funds shall be paid out of the depository in the manner prescribed by order of the board of trustees of the junior college for purposes provided by statute.
Sources: Codes, 1942, §§ 6475-11, 6475-63; Laws, 1950, ch. 369, § 11; Laws, 1964, ch. 398, § 13; Laws, 1980, ch. 428, § 9, eff from and after passage (approved April 30, 1980).
§ 37-29-143. Receipt and expenditure of tax revenues; surety bonds by persons handling district funds.
(1) On or before the thirtieth day of each month, the board of supervisors of each county belonging to a junior college district and levying taxes pursuant to subsection (1) of Section 37-29-141, for the support and maintenance thereof shall transmit or have the chancery clerk transmit its warrant or warrants constituting all of the revenues received from taxation for the prior month for said purposes to the chief executive officer or president of its respective junior college district. All such county warrants evidencing a county's annual income from its authorized tax levy shall be forthwith deposited in one or more banking institutions and public depositories previously selected by the board of trustees of the junior college district and spread upon its official minutes. The board of trustees shall, by appropriate orders spread upon its minutes, authorize its chief executive officer or president to expend such funds for lawful purposes only and in accordance with its annual budget previously adopted.
The board of trustees may require its designated employees, including its president, and fiscal agents to enter into and file with the president of the college a surety bond to insure the faithful performance of the public duties of each officer or agent who is authorized to receive and expend the funds of the district. Such bond may be of such denomination and conditions as the board of trustees may deem necessary and requisite, and the premium thereon shall be paid from the funds of the district.
(2) All funds derived from such taxes as are provided for in subsection (2) of Section 37-29-141, shall be paid into the county depository of the county in which the junior college is located, upon receipt warrants of the chancery clerk of said county. Such funds shall be paid out of the depository in the manner prescribed by order of the board of trustees of the junior college for purposes provided by statute.
Sources: Codes, 1942, §§ 6475-11, 6475-63; Laws, 1950, ch. 369, § 11; Laws, 1964, ch. 398, § 13; Laws, 1980, ch. 428, § 9, eff from and after passage (approved April 30, 1980).
§ 37-29-143. Receipt and expenditure of tax revenues; surety bonds by persons handling district funds.
(1) On or before the thirtieth day of each month, the board of supervisors of each county belonging to a junior college district and levying taxes pursuant to subsection (1) of Section 37-29-141, for the support and maintenance thereof shall transmit or have the chancery clerk transmit its warrant or warrants constituting all of the revenues received from taxation for the prior month for said purposes to the chief executive officer or president of its respective junior college district. All such county warrants evidencing a county's annual income from its authorized tax levy shall be forthwith deposited in one or more banking institutions and public depositories previously selected by the board of trustees of the junior college district and spread upon its official minutes. The board of trustees shall, by appropriate orders spread upon its minutes, authorize its chief executive officer or president to expend such funds for lawful purposes only and in accordance with its annual budget previously adopted.
The board of trustees may require its designated employees, including its president, and fiscal agents to enter into and file with the president of the college a surety bond to insure the faithful performance of the public duties of each officer or agent who is authorized to receive and expend the funds of the district. Such bond may be of such denomination and conditions as the board of trustees may deem necessary and requisite, and the premium thereon shall be paid from the funds of the district.
(2) All funds derived from such taxes as are provided for in subsection (2) of Section 37-29-141, shall be paid into the county depository of the county in which the junior college is located, upon receipt warrants of the chancery clerk of said county. Such funds shall be paid out of the depository in the manner prescribed by order of the board of trustees of the junior college for purposes provided by statute.
Sources: Codes, 1942, §§ 6475-11, 6475-63; Laws, 1950, ch. 369, § 11; Laws, 1964, ch. 398, § 13; Laws, 1980, ch. 428, § 9, eff from and after passage (approved April 30, 1980).
