KRS § 268.220 Treasurer acts for all boards in county -- Bond -- Audit of books -- Statement of accounts -- Issue and form of warrant -- Interest on unpaid warrants.
AI-assisted research summary: The county treasurer for drainage districts must handle district funds, keep them in a board-designated bank, give bond, and pay money only on properly issued warrants. Unpaid warrants for lack of funds draw 6% interest until paid.
268.220 Treasurer acts for all boards in county -- Bond -- Audit of books -- Statement of accounts -- Issue and form of warrant -- Interest on unpaid warrants. (1) The treasurer of the board in any county shall hold the office of treasurer of all districts organized in that county, and shall receive and receipt for all the drainage assessments collected by the sheriff. He shall give bond in the amount fixed by the board. This bond shall remain in the custody of the president of the board and be kept separate from all papers in the custody of the secretary or treasurer. The treasurer shall keep all funds deposited in some bank, to be designated by the board. All interest paid on the fund shall be credited to the district. The board shall have the books of the treasurer audited by a competent accountant appointed by it, as of December 31 in each year, and shall file a copy of the auditor's report with the clerk of the court where the district was organized, and publish a statement within thirty (30) days showing the amount of money received, the amount paid out during that year and the amount in the treasury at the beginning and end of the year. (2) The treasurer shall pay out funds of the district only on warrants issued by the board. Warrants shall be issued only on the order of the board at a regular meeting, of which a record shall be kept. Warrants shall be signed by the president of the board and attested by the secretary. All warrants shall be in substantially the following form: "$........................... fund .................. No. of warrant .............................. treasurer of district No. .................. of .................. County (or Counties), Kentucky. "Pay to ............. dollars out of the money in .................. fund of the district. For .................. By order of board of drainage commissioners of .................. County. This ............. day of .................., 19......... (Seal) President of board of drainage commissioners of ............. County Attest: ............. Secretary." (3) If any warrant is not paid when presented to the treasurer because of lack of funds in the treasury, that fact shall be endorsed on the back of the warrant, and it shall draw interest thereafter at the rate of six percent (6%) per annum, until there is money on hand to pay it with interest then accumulated. No interest shall be allowed on any warrant after that time. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 2380b-31, 2380b-38.