PARRIS N. GLENDENING, Governor                             Ch. 479

Approved May 18, 1995.

CHAPTER 479
(House Bill 1273)

AN ACT concerning

Somerset County - Taxes Deposited

FOR the purpose of permitting the Somerset County Treasurer to withdraw excess
County funds and invest them, subject to certain conditions, in certain ways;
requiring that the Treasurer maintain certain evidence regarding the protection of
invested funds; clarifying language and structure; providing for an effective date;
and generally relating to the investment of Somerset County funds.

BY repealing and reenacting, with amendments,
The Public Local Laws of Somerset County
Section 7-204

Article 20 - Public Local Laws of Maryland
(1994 Edition, as amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 20 - Somerset County

7-204.

(A)    At least once in each week the Treasurer shall deposit in a national or State
bank in Somerset County all taxes received or collected by [him] THE TREASURER up to
the date of the deposit. The portion due the State shall be deposited to the Treasurer's
credit as collector of State taxes, and the portion due Somerset County shall be deposited
to the credit of the County Commissioners.

(B)     Once a month, the Treasurer shall forward to the State Treasurer a check for
the amount of State taxes to the State Treasurer's credit in the bank.

(C)     The County Treasurer shall receive from the bank a certificate of deposit for
each deposit to the credit of the County Commissioners, which the County Treasurer
shall deliver to them at their next regular meeting, and for which they shall give to the
County Treasurer a proper receipt or voucher.

(D)    Funds shall be drawn only from the bank upon the check of the President of
the County Commissioners, countersigned by the Treasurer[,]:

(1)      [in] IN payment of debts and accounts due by Somerset County, duly
approved and passed by the County Commissioners and ordered by them to be paid; OR

(2)     FOR THE INVESTMENT OF EXCESS COUNTY FUNDS.

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