Chap. 151.—An ACT to require the treasurer of the county of Page to deposit all
county and district funds coming into his hands in depositaries selected by
him, and to provide for the disposal of the interest on said deposits. [H B 205]

Approved March 20, 1930

1. Be it enacted by the general assembly of Virginia, That the
treasurer of the county of Page shall select one or more Virginia State
or national banks or banking institutions, as depositaries for all county
and district taxes, license fees and funds of every, character, of which
the said treasurer is custodian, and shall deposit such funds in such
banks, and shall require said bank or banking institutions to pay not
less than two and one-half per cent interest per annum on said funds;
provided, however, that such treasurer shall not be required to deposit
any of such funds in any such bank until such bank shall have secured
some person other than the bank itself in its behalf to enter into a
bond with surety approved by such treasurer for a sum which at all
times shall be twenty-five per centum in excess of the amount of suck
funds that are on deposit in such bank, with condition faithfully tc
account for and pay over when and as required, whatever amount may.
at the time such bond is given be on deposit in said bank to the credit
of such treasurer and such other sums as may thereafter be deposited
in said bank by such treasurer, as treasurer, with the further condi-
tion to pay interest thereon at the rate of not less than two and one-
half per centum per annum and for the faithful discharge by said bank
of all the duties and obligations pertaining to it as such depositary.

2. The said treasurer shall be allowed to carry an amount not
exceeding twenty per centum of the total levies of the said county, in
said depositaries without interest.

3. The said treasurer shall receive a commission of five per cen-
tum on all interest money received and disbursed under this act.

4. Nothing in this act shall be construed to decrease or diminish
in any way the liability of the treasurer of the said county as insurer
of the funds in his hands, nor shall anything herein contained be con-
strued to decrease or diminish the responsibilities of sureties on the
official bonds of said treasurer.

9. Interest accruing on said funds shall be placed to the credit of
the general fund of the said county.