CHAPTER 107

AN ACT to amend and reenact § 74 of Chapter 34 of the Acts of
Assembly of 1918, approved February 7, 1918, which provided
a charter and special form of government for the city of
Norfolk, said section relating to the City Treasurer.

[S 183

Approved March 6, 1950

Be it enacted by the General Assembly of Virginia:

1. That section seventy-four of chapter thirty-four of the Acts
of Assembly of nineteen hundred eighteen, approved February
seven, nineteen hundred eighteen, which provided a charter and
special form of government for the city of Norfolk, be and the
same is hereby amended and reenacted so as to read as follows:

§ 74. City Treasurer.—-The City Treasurer shall be elected at
the time, in the manner and for the term provided in § 23 of this
Charter. He shall give bond in such sum not less than one hundred
thousand dollars, as the Council may prescribe, with surety to be
approved by the Council, conditioned for the faithful discharge of
his official duties in relation to the revenue of the City, and of
such other official duties as may be imposed upon him by this
Charter and the ordinances of the City. Subject to the supervision
of the Director of Finance, he shall collect and receive all City
taxes, levies, assessments, license taxes, rents, water rents, fees
and al] other revenues or moneys accruing to the City, and for
that purpose shall be vested with any and all powers which are
now or may hereafter be vested in such City Treasurer as collector
of State taxes. He shall be the custodian of all public money of
the City, and of all other money coming into his hands as City
Treasurer. The City Treasurer shall keep and preserve such
moneys in such banks or trust companies as may be determined
by ordinance or by the provisions of any law applicable thereto.
The aggregate deposit of City funds with any one bank or trust
company shall not, at any one time, exceed fifty percent of the
capital, surplus and undivided profits of any such institution. It
shall be the duty of said City Treasurer to conduct all of the pro-
ceedings and render all services necessary to perfect the sale and
transfer of real estate in said City where the same shall be sold
or advertised for sale for the nonpayment of any taxes or assess-
ments imposed by the Council. He shall perform such other duties,
have such powers and be liable to such penalties as are now or
may hereafter be prescribed by law or ordinance.

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