Opinion No. 18-2073
January 4, 1918
TO: Honorable A. G. Whittier, State Traveling Auditor, Santa Fe, New Mexico.
Annual Bond Not Necessary Where County Treasurer Gives a Term Bond.
OPINION
We have your favor of January 3rd wherein you ask whether the bond given by County Treasurers, as provided by Chapter 57 of the Laws of 1915, is required to be given annually, or only at the beginning of the term for which the Treasurer may be elected.
By the statutes of this State County Treasurers are required to furnish a bond conditioned upon the faithful performance of their duties as Treasurer. Section 17, Chapter 57, Laws of 1915, provides that the bond required to be given shall be in a sum equal to thirty-five per cent. of the receipts of the office during the preceding fiscal year. This might lead to the belief that a new bond should be given each year, based upon the receipts for the preceding year. By reference to Section 18 of the same chapter, it will be seen from the form of bond therein given is conditioned that the Treasurer shall faith-fully perform the duties during the term of office, and until his successor is elected and qualified. This, together with the fact that no definite statement is made anywhere in the statutes requiring a bond each year, leads us to the belief that it was the intention of the lawmakers to require that the Treasurer give a bond at the time of taking his office, based upon the receipts of the office during the preceding fiscal year, and that such bond should be for the entire term; and that, therefore, it is not required to give a new bond each year. Of course if any of the Treasurers have given a bond for but one year and it is limited to such time, then such Treasurer must give a new bond for the remaining portion of his term. But, if the bonds are conditioned as per the form set forth in Section 18, no new bond is required.
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