N.Y. Education Law § 1719: Deposit, custody and payment of moneys in villages

§ 1719. Deposit, custody and payment of moneys in villages. 1. All

moneys raised for the support of schools in any union free school

district whose boundaries are coterminous with the boundaries of an

incorporated village or apportioned to the same by the education

department or otherwise, shall be paid into the treasury of such village

to the credit of the board of education therein; and the funds so

received into such treasury shall be kept separate and distinct from any

other funds received into the said treasury. And the officer having the

charge thereof shall give such additional security for the safe custody

thereof as the corporate authorities of such village shall require. The

board of education in any such union free school district may, in its

discretion, fix the compensation to be paid to the treasurer of such

village for the services imposed upon him by this section, and such

compensation, as so fixed, shall be paid from such moneys.

2. No money shall be drawn from such funds, credited to a board of

education, unless in pursuance of a resolution of said board, and on

voucher-order checks signed by the treasurer, payable to the order of

the persons entitled to receive such money, and stating on their face

the purpose or service for which such moneys have been authorized to be

paid by the said board of education. The board of education may in its

discretion require that such checks be countersigned by another officer

of such district. When authorized by resolution of the board of

education such checks may be signed with the facsimile signature of the

treasurer and other district officer whose signature is required, as

reproduced by a machine or device commonly known as a checksigner. No

resolution of the board of education, however, shall be necessary for

the payment of compensation for services of an officer or employee

engaged at agreed wages by the hour, day, week, month or year when the

name of such officer or employee appears upon a duly certified payroll,

or of the principal of or interest on indebtedness of the district. By

resolution duly adopted, the board may determine to enter into a

contract to provide for the deposit of the periodic payroll of the

school district in a bank or trust company for disbursal by it in

accordance with provisions of section ninety-six-b of the banking law.

3. When obligations are issued and sold pursuant to the local finance

law by a union free school district whose boundaries are the same as the

boundaries of an incorporated village, the proceeds of the sale of such

obligations shall be paid into the treasury of said incorporated

village, to the credit of the board of education.

4. So much of this section as relates to the deposit of moneys raised

for the support of schools in any union free school district shall not

apply to the Bronxville union free school district.