§ 1719. Deposit, custody and payment of moneys in villages. 1. All
moneys raised for the support of schools in any union free school
district whose boundaries are coterminous with the boundaries of an
incorporated village or apportioned to the same by the education
department or otherwise, shall be paid into the treasury of such village
to the credit of the board of education therein; and the funds so
received into such treasury shall be kept separate and distinct from any
other funds received into the said treasury. And the officer having the
charge thereof shall give such additional security for the safe custody
thereof as the corporate authorities of such village shall require. The
board of education in any such union free school district may, in its
discretion, fix the compensation to be paid to the treasurer of such
village for the services imposed upon him by this section, and such
compensation, as so fixed, shall be paid from such moneys.

2. No money shall be drawn from such funds, credited to a board of
education, unless in pursuance of a resolution of said board, and on
voucher-order checks signed by the treasurer, payable to the order of
the persons entitled to receive such money, and stating on their face
the purpose or service for which such moneys have been authorized to be
paid by the said board of education. The board of education may in its
discretion require that such checks be countersigned by another officer
of such district. When authorized by resolution of the board of
education such checks may be signed with the facsimile signature of the
treasurer and other district officer whose signature is required, as
reproduced by a machine or device commonly known as a checksigner. No
resolution of the board of education, however, shall be necessary for
the payment of compensation for services of an officer or employee
engaged at agreed wages by the hour, day, week, month or year when the
name of such officer or employee appears upon a duly certified payroll,
or of the principal of or interest on indebtedness of the district. By
resolution duly adopted, the board may determine to enter into a
contract to provide for the deposit of the periodic payroll of the
school district in a bank or trust company for disbursal by it in
accordance with provisions of section ninety-six-b of the banking law.

3. When obligations are issued and sold pursuant to the local finance
law by a union free school district whose boundaries are the same as the
boundaries of an incorporated village, the proceeds of the sale of such
obligations shall be paid into the treasury of said incorporated
village, to the credit of the board of education.

4. So much of this section as relates to the deposit of moneys raised
for the support of schools in any union free school district shall not
apply to the Bronxville union free school district.