HERBERT R. O'CONOR, GOVERNOR. 1385

ness or notes of any county or municipality or political sub-
division in said State, or bonds or notes secured by a first
mortgage or deed of trust on real property located in Mont-
gomery County and satisfactory to said board, or a bond signed
by three or more personal sureties. Said board shall be em-
powered to make any rules or regulations relative to the de-
posit or safekeeping of any security deposited for its benefit
by any bank or banking institution. Said board, by a major-
ity vote of all its members, may designate any bank or banking
institution in the City of Baltimore, Maryland, or in the City
of Washington, District of Columbia, or in the City of New
York, having a combined capital and surplus of not less than
One Million Dollars ($1, 000, 000. 00) and may exempt any bank
or banking institution so designated from complying with the
provisions hereinabove set forth for the security of such funds
as may be deposited with it but no funds in excess of five per
cent of the combined capital and surplus of any such bank
shall be deposited by any officer of Montgomery County. Pro-
vided, however, that the surety on the fidelity bond in the sum
of $50, 000 given by the Treasurer of Montgomery County to
the Board of County Commissioners in compliance with Sec-
tion 200 of this Article as the same was re-enacted by Chapter
10 of the Acts of the General Assembly, Special Session of
1933, or any amendment thereof, shall not be liable to Mont-
gomery County, to any governmental agency of Montgomery
County, nor to any person, firm or corporation for any loss
or damage that may be sustained by Montgomery County, any
county governmental agency, or any person, firm or corpora-
tion by reason of any breach of any of the provisions hereof
by the County Commissioners of Montgomery County or the
inadequacy of the bond or security required to be given here-
under, or by reason of the failure of the Treasurer of Mont-
gomery County to comply with the orders or resolutions of
the Board of County Commissioners in respect to the use by
him of the designated banks of deposit for County funds or of
deposits in any bank or banks in excess of the amounts desig-
nated by the Board of County Commissioners, it being the
legislative intent that nothing herein contained shall be con-
strued to make a depositary bond of the aforesaid fidelity bond
given by the Treasurer.

All interest received by the Treasurer on county funds so
deposited shall be segregated by him into a special fund and
each year prior to the making up of the annual levy by the
County Commissioners, the Treasurer shall make report of
such sum to the County Commissioners, who shall deduct
the sum so received from the total amount to be levied by the
Board of County Commissioners for the ensuing year.