171 Ga. 317 | Ga. | 1930
The Plainfield Consolidated School District of Dodge County issued bonds for the purpose of building and equipping a schoolhouse in said district. These bonds were sold, and the proceeds were turned over to the trustees of this district or to J. W. Lee Jr., the treasurer of the trustees of the district, and were deposited in the Citizens Banking Company in the name of Lee as treasurer. Lee was succeeded by Dykes as treasurer, and these funds were turned over to him as treasurer. Prior to April 2, 1929, the number of the trustees of this district had been fixed at five by the county board of education. Dykes’ term of office as trustee expired on that date. The county board had previously called an election for April 6, 1929, to fill vacancies on the district boards of trustees. On April 2, 1929, the county board passed a resolution reciting that the school in this district had been allowed five trustees in the past; declaring that thereafter this school- district should be allowed only three trustees, the same as other districts whose schoolhouses were out of an incorporated town; and ordering that no election be held for the two trustees of this district whose terms expired on April 2-, 1929, that the general call for the election of district school trustees on April 6, 1929, be canceled so far as it affected this district, and that the school of this district should continue to operate with its three remaining trustees. -In February, 1929, the Citizens Banking Company was taken over for liquidation by the superintendent of banks. The trustees of this district became fearful that depositors in this bank would lose a large part of their deposits, and that in any event the payment of the deposit of the school bond funds would be delayed for a long time. In this situation the trustees of this district decided that it was best to accept and did accept a proposition of the bank officials to make good the impaired capital of the bank by the payment to it of $67,000, provided the depositors would accept payment of their deposits in three equal annual payments. Accordingly the trustees directed Dykes, the treasurer of said trustees, to accept these annual certificates, which was done. John W. Lee Jr. succeeded Dykes as treasurer of this district, but failed to give a bond which was satisfactory and acceptable to the county board.
Can the county board of education maintain mandamus proceedings against Dykes as treasurer, and the Citizens Banking Company, to compel them to turn over to it the funds arising from the sale of the school bonds issued and sold for the purpose of erecting and furnishing a district schoolhouse, where these funds had been turned over to the district trustees and by them deposited in said bank in the name of the district treasurer, where the bank afterwards became insolvent and was taken over by .the
The proceeds of the bonds in question were turned over to the trustees of this district in accordance with the above provision of law. The district trustees first got possession of these funds, and still holds them. The trustees hold them in trust for the purpose above stated. When the trustees acquired possession of these
This ruling controls'the case and renders it unnecessary to consider other questions raised in this case.
Judgment affirmed.