City of Sisseton v. Western Surety Co.

DILLON. J.

Plaintiff, a municipality, seeks to recover from defendant, Western Surety Company, on a depositary bond, for the amount of $2,9.34.24. This sum, being the amount of moneys 'belonging to plaintiff, was on deposit in the Guaranty State Bank of Sisseton at the time said bank became insolvent. The facts as disclosed by the record are: That the city council of said municipality designated said bank as the depositary for its funds; that defendant, Western Surety Company, became surety for the bank, as depositary for said funds, furnishing a bond in the amount of $6,000; that, at the time…