1984 LAWS OF MARYLAND. [CH. 812

85. The Treasurer of said Chevy Chase Village shall de-
posit all funds coming into his hands as such in accordance
with the requirements of law, for the deposit of county funds
by the County Treasurer, or in some other bank approved
by the Village Board of Managers; provided, that the Treas-
urer of said Chevy Chase Milage shall not dispose of any
of the funds coming into his hands as such Treasurer, except
upon check duly signed by him as such Treasurer and coun-
tersigned by the Chairman or Vice-Chairman or some
member of the said Board of Managers acting as Chairman
pro tem in his absence. Such acting Chairman shall be duly
authorized to act by resolution of said Board of Managers
which must be first placed upon the minutes of the Board of
Managers to be provided therefor.

86. The Board of Managers for the said Chevy Chase Village
shall have the power to enter into an agreement in writing with
the Chevy Chase Club, a corporation organized under the laws
of the District of Columbia, for the renewal or extension of an
existing contract entered into in compliance with the provisions
of Section 9 of Chapter 610 of the Acts of the General Assembly
of Maryland of 1914, said renewal or extension agreement to
provide for the payment by said Club of the sum of Two
Thousand Dollars ($2,000.00) annually for an additional
period of ten (10) years to date from December 31, 1947, in
consideration of the use and enjoyment of the streets, road-
ways and public service of said Chevy Chase Village, the said
sums to be used and expended by said Board of Managers
for the purposes authorized in said existing contract .

87. The said Chevy Chase Village Board of Managers be
empowered to mortgage or encumber the Library and Post
Office buildings and property in an amount not to exceed
$25,000.00 at ane one time, said power to so encumber the
aforesaid property shall be continuing; said Board of Man-
agers will pay the interest on such loan and make curtails
thereon out of the rentals derived from the aforesaid buildings
and property and out of the general tax levy. The curtails on
said loan to be made at the discretion of the said Board. The
money shall be used for maintaining, repairing and improving
the property held by the said Board in the public interest of
the citizens of the said Chevy Chase Village.

88. The Chevy Chase Village Board of Managers is hereby
declared to be the legal successor of the Chevy Chase Citi-
zens' Committee of Sections 1, 2 and part of 1A and shall
be entitled to and is hereby vested with all the property and
rights of every nature whatsoever, belonging to the said