State ex rel. Bank of Franklinton v. Louisiana State Board of Agriculture & Immigration

Citations

• 122 La. 677
• 48 So. 148
• 1909 La. LEXIS 600

Syllabus

<p>1. Depositaries (§ 6*) — Funds op State Boards — Deposit—Selection oe Banks— “Safety.”</p> <p>Under Acts Extra Sess. 1907, p. 25, No. 23, requiring public boards of the state to deposit their funds in one of the chartered banks within their jurisdiction offering the highest rate of interest consistent with the safety of the funds, and requiring the board to adyertise and let the deposits, a distant bank cannot be excluded solely by reason of any supposed or real danger resulting from its distance, provided it is otherwise entitled to the contract, “safety,” as used in the statute, meaning nothing more or less than that the funds should be safely kept and faithfully and punctually accounted for.</p> <p>[Ed. Note. — For other cases, see Depositaries, Dec. Dig. §^6.*</p> <p>For other definitions, see Words and Phrases, vol. 7, p. 6284.]</p> <p>2. Depositaries (§ 6*) — State Funds — Deposit — Banks—Selection—Duty of Board.</p> <p>Under Acts Extra Sess. 1907, _p. 25, No. 23, requiring state boards to advertise and let the deposits on open bids to the bank offering the highest rate of interest consistent with the safety of the funds, a board’s function in ascertaining which bank has offered the highest rate of interest is confined to comparing the face of the bids, the only discretion granted to the board being to determine whether the bids- are regular, and whether the bank whose bid is highest on the face of the papers would be a safe depository in the sense of safely keeping and restoring the funds.</p> <p>[Ed. Note. — For other cases, see Depositaries, Dec. Dig. § 6.*]</p> <p>B. Mandamus (§ 72*) — Duty of Officers — Discretion.</p> <p>If, by a mistake of law or otherwise, there ’has been no actual or bona fide exercise of discretion by public officers, mandamus will lie.</p> <p>[Ed. Note. — For other cases, see Mandamus, ■Cent. Dig. § 134; Dec. Dig. § 72.*]</p> <p>4. Depositaries (§ 6*) — Funds—Deposit—Selection of Banks.</p> <p>Under Acts Extra Sess. 1907, p. 25,