§ 70-5-181. Registration of certificates of indebtedness or bonds – Recording of payment.

The treasurer of a school district to whom a certificate of indebtedness or bond is directed for payment shall register the certificate of indebtedness or bond by entering the number, the date, the name of the payee, the fund upon which it is drawn and the amount and shall write on the certificate or bond the date of registration and the name of the treasurer.  Certificates of indebtedness or bonds shall be registered in the numerical order in which they are issued and, after registration, shall be given to the encumbrance clerk.  No certificate of indebtedness or bond shall be a valid charge until registration by the treasurer.  A board of education may contract for and pay a registrar or transfer agent to transfer ownership or change of payee of any certificate of indebtedness or bond issued by the school district and to maintain relevant books and records.  The treasurer shall record payment of certificates of indebtedness or bonds and mark “paid” on the face of paid certificates of indebtedness or bonds.

Added by Laws 2004, c. 361, § 24, eff. July 1, 2004.