1384 LAWS OF MARYLAND. [CH. 662

Local Laws of Maryland, title "Montgomery County", sub-
title "County Treasurer", as the same was repealed and re-
enacted by Chapter 541 of the Acts of the General Assembly
of Maryland, Regular Session of 1933, be, and the same is
hereby repealed and re-enacted, with amendments, to read as
follows:

204. The County Treasurer shall collect all taxes levied by
the Board of County Commissioners and shall receive all
monies paid to said county from any source whatever and all
monies payable to the county from any source whatever shall
be paid to said Treasurer and shall make disbursement thereof
under the provisions of law and the order of the County
Commissioners.

It shall be his duty to deposit daily all monies, checks, drafts
and other receipts collected or received by him in such bank
or banks or banking institutions as shall be designated from
time to time by the Board of County Commissioners of Mont-
gomery County; provided such banks or banking institutions
shall comply with the provisions for the security of such
funds as hereinafter set forth. The Treasurer shall at all
times make deposit of the said county funds in the banks
or banking institutions so designated and in such a manner
as may be fixed from time to time by the Board of County
Commissioners. In selecting such place or places of deposit
the Board of County Commissioners are to prefer the banks
or institutions which shall agree to pay interest upon the
monthly balance of such deposits at a rate equal to one-half
of one per cent less than the Baltimore Clearing House inter-
est rates on reserve bank deposits; provided, however, that
the Board of County Commissioners shall require from each
and every bank or banking institution receiving deposits of
public funds a bond in form satisfactory to the Board of
County Commissioners executed by satisfactory surety or
guaranty company, qualified to transact business in the State
of Maryland, in an amount equal to the amount of public
funds so deposited. Said bond to run to the State of Mary-
land for the benefit of Montgomery County and to be con-
ditioned upon the safekeeping and forthcoming when required
of all deposits made during the term of such designation. In
the event any banking institution shall be unable or unwilling
to provide a surety or guaranty company bond satisfactory
to the Board of County Commissioners as hereinbefore pro-
vided, the said board may in its discretion, by proper resolu-
tion accept in lieu of such surety or guaranty company bond
as to all or any part of such deposit, bonds of the United
States Government, or bonds or certificates of indebtedness
of the State of Maryland, or bonds, certificates of indebted-