§ 62-38. Bond of custodian of fund.

Latest version.

The library board of trustees shall require the treasurer of the board, or such other person as may be designated as the custodian of the moneys paid over to such board, to give a bond to be approved by such board and in such amount, not less than 50 percent of the total funds received by the library in the last fiscal year, conditioned that he will safely keep and pay over upon the order of the board of trustees all funds received and held by him for such board of trustees. The board of trustees may designate the city treasurer as the custodian of the library fund, and the bond given by the treasurer shall satisfy the bond requirements of this section when properly endorsed. The cost of any surety bond shall be borne by the library.

(Code 1996, § 96.27)

State law reference

Similar provisions, 75 ILCS 5/4-9.

                    
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