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1 1 i l he is interested; is liable -to the county for the sum paid, such contracts being void. a Respectfully submitted, C. P. diamond To the Honorable Board of County.Commissioners Indian River County; Florida,. Gentlemen. S. N. Smith Vero Beach, -Florida. Sept. 9, 1929. You have referred to me for my opinion and advice the report submitted to Your Honorable Board by Messrs. Co P. Diamond and S. N. Smith pursuant to action heretofore taken by Your Board. I have carefglly gone over this report and herewith present to you d my views with reference to same; taking up each item of the report by number seriatim as the same are set forth in said report. 1. The first Item of the report deals with the money of the county on deposit with the Bank of Sebastian when that institution was closed on July 20, 1926, and the report, so far as I have been able to ascertain correctly states the situAtion with re- ferenee to this bank and'does not indicate or suggest that there was anything wrong or Illegal in this transaction, and I take it there is no question, therefore, in any man- ner with reference to this situation. 2. The second paragraph of the report reiates to the Farmers Bank & Trust r Company. This bank was duly designated as a county depository and security given in accordance with the statute, and as appears.by the report there is still a balance. due the county from said bank of $519016.86. There has been made between this Board and the Farmers Bank of Vero Beach, successor to Farmers Bank & Trust Company, as I understand it, an agreement for the payment by said bank of the balance due said county, and inas- much as the Legislature of the State of Florida at its 1927 session; by Chapter 11849 of the Laws of Florida; authorized and empowered the public officers of any town, city, county 'or "special district to consent to the freezing of such deposits upon such condi- tions as the Comptroller might approve; and inasmuch as_I understand that the arrangement between this Board and Farmers Bank relative to the payment to the county has the approva; of the Comptrollers it is my opinion that transaction between this Board and the bank is regular and legal, and that the situation with reference to the balance of the money due this Board by said bank is in as satisfactory condition as it is possible to place the saae in the light of the conditions surrounding the Farmers Bank & Trust Company at the time it closed, and the contract of the bank with the Board is as binding on said bank as a note or certificate of deposit would beo With reference to the transfer of funds to the #armers Rank, as set forth in paragraph 2 of the report, the minutes of the Board of County Commissioners, Minute Book 19 page 32, show that upon the sale of bonds of Special Road and Bridge District No, 40 Farmers Bank of Vero Beach and Fort Pierce Bank & Trust Company became the joint purchase's thereof, and the minutes show that on December 19 1925; (See Minute Book 1; page 42 ) they said Farmers Bank of Vera Beach and the Fort Pierce Bank & Trust Company were jointly I made depositories for the funds of said district; and inasmuch as the transfer of funds was therefore made from one depository to another; both of;which had been duly designated. as joint depositories by order of the Board; I fail to see where anything irregular or illegal has been done in connection therewith. iL