77-2327. Public funds; depository bonds; expiration.
112 words·~1 min read·
/ne/chapter-77/77-2327A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All bonds given to secure deposits of public money by the state or by any county, except for deposit guaranty bonds defined under section 77-2387 , shall expire on January 1 of each year.
Bond given by state bank to secure school district deposit is valid obligation of sureties, notwithstanding absence of statute expressly granting such authority. School District of City of Bayard v. Vanatta, 123 Neb. 216, 242 N.W. 435 (1932).
It is lawful for bank to give depository bond to school district to secure deposit of its funds, and sureties thereon are bound thereby. Liberty High School District of Sioux County v. Currie, 122 Neb. 173, 240 N.W. 286 (1931).