150 N.Y.S. 175 | N.Y. App. Div. | 1914
This is a submitted controversy between the city of Newburgh and its city treasurer. The city council passed a resolution in February, 1914, whereby a certain bank in the city was designated as the depositary of the funds of the city and of the several departments thereof until the further order of the city council, and the city treasurer was directed to deposit the funds of the city received by him in said bank. The city treasurer took the position that he was the legal custodian of the funds of the city by virtue of his office, and had the right to select
The defendant lays stress upon the fact that he is required by the charter to give a bond. But such requirement is found in section 16 of title 2 of the charter, which is general, in that it requires a bond not only from the treasurer but also from the recorder, the justices of the peace, the superintendent of public works and such other officers as may be required. And the bond prescribed is that such officers shall “ faithfully discharge the duties of their respective offices, and pay over all moneys received by them, respectively.” The bond of the defendant is expressed in the terms of this charter provision. The defendant’s argument is that, as he is required to give a bond and is thus responsible, the fair intendment is that he should select the depositary. But the' requirement of the bond is that he shall pay over all moneys received by him. It is. the settled law of this State that a public official assumes all risk of loss and is charged
Judgment for the plaintiff in accord with the terms of submission.
Burr, Thomas, Rich and Stapleton, JJ., concurred.
Judgment for plaintiff, without costs, in accord with the terms of the submission.