Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1836-12-09

Az; act to provide for the receipt and depo siion of
the Public money of the United States which
may he deposited with this Stale.
ut ;e kereby enacted SC. That the Treas
IL urer of this state be, and no Is hereby
authorised 10 receive from the Secretary
ofthe Treasury of the United States all
the money which is directed to be deposit
ed with the safe of Vermont, by virtue OF
the provisions of an act entitled IAN act
to regulate the depnsl;es Of the public
money" passed by the Congress Of the UNI.
led States at the session thereof now last
past, and approved by the President On
the twen,y.th;rd day Of June. Ammo Dom
mi one thousand eight hundred and thirty
six; and the said Treasurer Of this state is
hereby directed aud empowered to execute
and deliver TO the said Secretary of the
Treasury of the Uuited States certificates
of deposit for said money, pledging the
faith Of this tate for safe keeping aud re.
payment thereof, IN conformity with the
provisions Of said act.
SEC. 9. That each Incorporated town
in this state may. on or before the first day
of IanGary next after the passage of this
act, at town meeiag duly warned and
holden Cor the purpose. and at each and
every March meetlng after the year one
thousand eight hundred aud lnuy seven,
elect, by ballot three Trustees Of such
town, for the purpose Of receiving and
managing such portion Of the public money
as NAV be deposlled in such town agreeaby
TO the provisions of this act, which trustees
shall execute their bond 10 the town, wit
three or more euificient sureiies. in suc'
sum as the seleclmen Of such town shnl
direct add accept, conditioned for the faith
ful performance Of their duty in the loan
ing, managing and accounting for suc'
sum or sums of money as may DE place.
in their charge agreeably to the provision
of this act. and each town that shall ap
point such Trustee, and receive by then
such deposit money, shall be accountable
for the return Of sad money, or aoy par
thereof to the state treasury, wheneve
called for by the state Treasurer upon IN
reonis,ion Of the United States, or for IN
purposes Of a new apporllonmenl, IN TN
same manner as towns are now accountant
for the state taxes.
SEC. 3. That the Treasurer OF thu
stale shall, on the receipt Of any portion q
such money, deliver to the trustees OF III
respective town such sum as such town
shall respectively be entitled to receive o.
deposit agreeably to the census taken IN 'h
year one thousand eight hundred an
thirty, and such trustees shall respec
lively execute to the Treasurer OF IN
state certificates of such deposits. in sue
form as the said states Treasurer is requlT
ed TO execute to the Secretary OF ID
Treasury Of the United States, agreeabl
TO the provisions of the act mentioned
the first section of this act.
Sec. 4, That the trustees of the res
peclive towns shall loan out the money S
deposited to such persons and IN such sun
as they shall judge expeJeni, for teri
not exceeding one year at one time. aud O
such security, either with one or MOI
suretles or on mortgage, as they shall dee
amply safe at an interest of six per cent
payable annually, and make all securiti,