18A:20-38 - Record of receipt; report; filing; transmittal of securities to depository
18A:20-38. Record of receipt; report; filing; transmittal of securities to depository
When said securities are received by the school district, the secretary shall duly record the receiving thereof in an appropriate manner and at the next regular or special meeting after such receipt, he shall transmit a written report to the board of education, setting forth the amount of securities so received, the series, date and the numbers and interest periods, if any, thereof and at the same time, transmit said securities to such depository, person or persons as the board of education shall direct for safekeeping. Such written report shall be recorded in the minutes at such meeting, and a certified copy of such minute record shall forthwith be filed with the Bureau of Financial Regulation and Assistance in the Department of the Treasury.
L.1977, c. 177, s. 2, eff. Aug. 16, 1977.