TITLE XLIV. AN ACT RELATING TO MONEYS RECEIVED FROM THE CHAPTER I. OF MONEYS RECEIVED FOR EXPENSES, IN THE LATE WAR WITH funded. 1833. Be it enacted by the Senate and House of Representatives, in General Assembly convened: SECTION 1. That whenever the moneys advanced by this state, Moneys to be re- for the defense thereof, during the war with Great Britain, or any part of said moneys, shall be received from the United States, the treasurer of the state shall give notice thereof to the several towns in the state, in such form as he may prescribe, and said moneys, when so received, shall be refunded to the people of this state, and shall be paid out to them as hereinafter provided. Apportionment to the towns. Apportionment limits have been SECT. 2. Within thirty days, next after the day on which said moneys shall be received by said treasurer, he shall make an appor tionment among all the towns which were incorporated before the twentieth day of August, 1813, which said apportionment said treas urer shall make upon the list of said twentieth day of August, 1813, as made out and returned to the comptroller of public accounts, giv ing to each of said towns a due proportion of said moneys, according to said list; and thereupon every town in the state, which has not been divided since the said twentieth day of August, 1813, and the local limits of which remain the same as on the said twentieth day of August, 1813, shall be entitled to draw, from the treasury of the state, the amount of money apportioned to such town, and the selectmen thereof may draw an order for the same on said treasurer. SECT. 3. Whenever the local limits of any town have been altered, to towns whose by the incorporation of any new town, or by taking a part from any altered since 1818. town and adding the same to any other town, the selectmen of the original town, together with the selectmen of the town or towns taken, in part or in whole, from said original town, shall, within thirty days from the notice given by the treasurer as aforesaid, proceed to ascertain and apportion to such original town, and the town or towns taken from the same, the amount apportioned to said orig inal town by the treasurer of the state, according to the list of August 20th, 1813, having reference to the residence of the inhabitants, and the location of estates, on the said 20th day of August, 1813; and said apportionment, so made, shall be forthwith returned to said treasurer; and if the selectmen of either of such towns shall refuse to make such apportionment, or if the selectmen of said towns shall be unable to agree on such apportionment, any judge of the superior court shall notify the towns interested, to appear and be heard, and shall make out and return to said treasurer, as soon as may be, an apportionment of such moneys, according to the rule aforesaid; and thereupon the amount apportioned, as last aforesaid, shall be paid over to the towns, to which the same shall be apportioned, as last aforesaid, if incorporated at the time when such money was received, and the selectmen thereof may draw an order on said treasurer for the same. SECT. 4. The sum of thirty-five thousand dollars shall be, and 1888. hereby is, retained out of any moneys coming to this state, from the What amount government of the United States, to be used to meet the debts and state expenses. the current expenses of this state. may be applied to CHAPTER II. OF THE DEPOSIT FUND. 1896. Whereas, an act to regulate the deposits of the public money, passed by the senate and house of representatives of the United Preamble, States of America, in congress assembled, and approved on the 23d day of June, 1836, among other things, provides: "That the money which shall be in the treasury of the United States on the first day of January, eighteen hundred and thirtyseven, reserving the sum of five millions of dollars, shall be deposited with such of the several states, in proportion to their respective representation in the senate and house of representatives of the United States, as shall by law authorize their treasurers, or other competent authorities, to receive the same on the terms hereinafter specified, and that the secretary of the treasury shall deliver the same to such treasurer, or other competent authorities, on receiving certificates of deposit therefor, signed by such competent authorities, in such form as may be prescribed by said secretary, which certificates shall express the usual and legal obligations, and pledge the faith of the state, for the safe keeping and re-payment thereof, and shall pledge the faith of the states receiving the same, to pay the said moneys, and every part thereof, from time to time, whenever the same shall be required by the secretary of the treasury, for the purpose of defraying any wants of the public treasury, beyond the amount of the five millions aforesaid; provided, that if any state declines to receive its portion of the surplus aforesaid, on the terms before named, the same shall be deposited with the other states agreeing to accept the same on deposit, in the proportion aforesaid; tion of this state, and provided further, that when said money, or any part thereof, shall be wanted by said secretary to meet appropriations made by law, the same shall be called for in ratable proportions, within one year, as nearly as conveniently may be, from the different states with which the same is deposited, and shall not be called for in sums exceeding ten thousand dollars, from any one state, in any one month, without a previous notice of thirty days, for every additional sum of twenty thousand dollars, which may at any time be required: that the said deposits shall be made with the said states, in the following proportions, and at the following times, to wit: one-quarter part on the first day of January, eighteen hundred and thirty-seven, or as soon thereafter as may be; one-quarter part on the first day of April, one-quarter part on the first day of July, and one-quarter part on the first day of October, all in the same year.' Now, therefore, to the intent that the state of Connecticut may receive its portion of the said surplus: Treasurer to re- SECT. 5. The treasurer of this state shall have authority to receive, ceive the propor- of the secretary of the treasury of the United States, such a propor and to give a cer- tion of the said surplus revenue of the United States, as this state tificate therefor. may be entitled to receive under the provisions of said act, and on receiving the same, to execute and deliver, to said secretary, a certificate of deposit therefor, in such form as may be prescribed by said secretary, which certificate shall express the usual and legal obligations, and pledge the faith of the state for the safe keeping and repayment thereof, and shall have authority to repay the said moneys from time to time, whenever such re-payment shall be required by the secretary of the treasury, according to the terms and provisions of the said act of congress. Upon what terms receive said funds. SECT. 6. The treasurer of this state shall have authority to receive, the treasurer is to from the secretary of the treasury of the United States, for deposit with this state, the share or proportion of the public moneys of the United States, which this state may be entitled to receive, in pursuance of the act of congress, entitled "an act to regulate the deposits of the public money," approved June 23d, 1836; and said treasurer may receive said money, on the terms specified in said act of congress, execute certificates of deposit therefor, and pledge the faith of the state for the safe keeping and re-payment of the funds, or mo neys, which it may receive in conformity with the requirements of the said act. On what terms to be deposited in the several towns. SECT. 7. The money which shall thus be received from the United States, in of the said act of congress, shall be deposited pursuance with the several towns in this state, in proportion to their respective populations, as ascertained by the last census, or with such towns as shall agree to receive the same on the terms hereinafter specified; and the treasurer of the state shall deliver the same to the agents of such towns, on receiving receipts therefor, signed by such agents, in the form hereinafter prescribed, which deposit shall be made with, and received by, such towns, on condition that the same shall be used as is hereinafter provided, and shall be repaid into the state treasury whenever payment thereof shall be required, by an act of the general assembly, or by proclamation of the person administering the office of governor, for the purpose of being paid into the treasury of the United States, in pursuance of the terms and conditions of the said deposit, as specified in said act of congress; but when said money, or any part thereof, shall be required to be repaid into the state treasury, as aforesaid, the same shall be called for in ratable proportions, within one year as near as conveniently may be, from the different towns with which the same shall have been deposited, and no such payment shall be required without at least thirty days previous notice thereof; and no payment shall be made to any town, of its proportion of the said money, until such town shall deliver to the treasurer a duly authenticated copy of a vote, or resolution, passed by the legal voters of such town, in a legal town meeting, giving the assent of such town to receive its proportion of the said money, on the terms and conditions herein specified, and appointing an agent to receive the same, and that said town will, in all respects, comply with the stipulations contained in this act, which vote or resolution shall be obligatory on the said town, and the inhabitants thereof, so long as the said money, or any portion thereof, shall remain deposited with such town. corporated since SECT. 8. When any new town has been constituted by a division How apportioned of any town or towns, since the last census, such new town, and the to new towns intowns so divided, shall receive their proportion agreeably to the the last census. census aforesaid, and when the proportion of each of said towns cannot be determined by reference to said census, the same shall be determined by a census to be taken as soon as may be, by some suitable person appointed for that purpose by the treasurer of this state, on application of either of such towns, made to him pursuant to a vote of a town meeting legally warned and held for that purpose, unless said towns shall mutually agree upon the proportion which each shall receive. 1855. 1861. may receive their SECT. 9. The condition on which any town may be permitted to 1886. receive, or shall receive, its proportionable share of the said money, Conditions on shall be as follows, to wit: first, that such town shall keep and pre- which the towns serve the money as a deposit, and in trust for the state; secondly, proportion. that it shall appropriate the entire income or interest thereof, annually, on or before the fourth day of March, to be distributed, under the direction of the selectmen and school visitors of such town, in the manner provided in the one hundred and seventeenth section of an act concerning education; thirdly, that it shall make good every deficiency in the amount received, should any loss occur through mismanagement or any other cause; and fourthly, that it shall repay, into the state treasury, the whole amount of said money received therefrom, or such part thereof as may be required, whenever the same shall be called for in the manner specified in the fifth section of this act. towns, to consti SECT. 10. The said money, when received by any town, shall The money reconstitute a fund therein, to be called the town deposit fund, until ceived by the recalled into the state treasury; and the principal of this fund shall tute a fund. remain permanent, and no part thereof shall ever be used for any purposes, other than those designated in this act. to have the cus SECT. 11. The treasurer, in each town, or such person as the town Town treasurer shall appoint, shall have the custody of said fund, and be the treas-tody of the fund,. urer thereof; and shall also have the custody of its income, money, &c. deeds, notes, securities, and all other papers or property appertaining thereto, and shall keep all accounts relating to the fund by themselves, and separate from all others, and shall exhibit, at each annual town meeting, an account showing the amount of the fund, how invested, the amount of its income, to whom paid, for what object, and the balance thereof remaining in the treasury; which account shall be read in open meeting, and be recorded, and kept on file, by the town clerk; and he shall make no payments from the fund, Treasurer's bond, &c. Fund, how man secured. except on orders drawn by the agent or agents, who shall have been duly appointed by the town according to the provisions of this act, which orders shall specify whether they are to be paid from the principal or income of the fund. SECT. 12. He shall, immediately after his appointment as treasurer, execute a bond to the town, with surety, to the acceptance of the selectmen thereof, for the faithful execution of his office, as treasurer of the fund; and in case of any loss or deficiency in the fund belonging to such town, or in case of any illegal or improper management, or application of its income, which shall come to his knowledge, he shall immediately make report thereof to the comptroller, and in default thereof he shall forfeit to the state twenty dollars for every week that he shall neglect to make such report, to be recovered in the name of the treasurer of the state, for the use of the state. SECT. 13. An agent or agents, appointed by each town at an anaged, loaned, and nual town meeting, or at a special town meeting warned for that purpose, shall from time to time be the manager or managers of the fund belonging to their respective towns, and shall at their discretion make loans therefrom, in such sums as may be deemed expedient, at the legal rate of interest; for which loans each borrower may execute to the town a note, secured by mortgage of real estate double the amount in value of the loan made to him; the expense of procuring and recording which mortgage shall be defrayed by the borrower. The interest on all loans shall be made payable on the first day of October, annually; and the fund and its income shall be wholly exempt from any charge or expense of its manage ment, or for any expense of any kind relating to its concerns. When any loan with the interest thereon shall be paid in full, the treasurer of the town, where the loan was made, may execute a deed of release of the mortgage premises, which deed, as well as other deeds taken in relation to the fund, may be acknowledged before a justice of the peace residing in the same town, and witnessed by persons who are inhabitants thereof. 1846. 1859. late loans and in posit fund. 1859. SECT. 14. The town deposit fund, in any town, may be loaned Towns may regu- by the agent or agents, manager or managers, thereof, at the legal vestments of de-rate of interest, and in such manner, and upon such terms and security, as said town may prescribe; and any town may authorize its agent or agents, manager or managers, to invest said fund, or any part thereof, when not loaned as aforesaid, in any bank stock in this state, in the bonds of any city in this state, in the bonds of this state, or in the bonds, loans, or securities of the United States. SECT. 15. Whenever the agent or agents, manager or managers, When loaned at of the town deposit fund in any town, shall have loaned such fund, cent., to be re- prior to the twenty-second day of June, 1859, at a less rate of interest, than the legal rate, such agent or agents, manager or managers, shall re-loan such fund, at the legal rate of interest, or in default thereof, such town shall pay such an amount, for the use of the common schools in such town, as will make the interest on such fund equal to the legal rate, which shall be distributed to the several school districts, in the manner provided in the one hundred and seventeenth section of an act concerning education. less than six per loaned. When and how refunded by towns. SECT. 16. If payment of the money, or any part thereof, received as aforesaid by the several towns, shall be required for the purpose, and in the manner specified in the seventh section of this act, every town shall, within the time limited, pay into the state treasury the whole amount which it has received therefrom, or such portion |