Evening star., 1933-03-27
NORTHUMBERLAND
BILL IS PREPARED.
Assembly to Get Measure to
Strengthen Deposit Guar.
antics Tonight.
BY JACK ALLEN,
6tan Correspondent Of The Star.

Stan correspondent OF Inc star.
ROCKVILLE, Nd, March H.
Legislation which would require banks
to strengthen the guarantees they post
on Montgomery County deposits and
authorize the county treasurer to COL
lect and disburse all county funds will
be introduced at tonight's session Of
the Maryland General Assembly. 1t
was announced today by Lacy Shaw.
president of the Board of County Com
missioners.
The bill also would reduce the fees
levied for handling and advertising
property for delinquent tax sales and
extend the time allowed employees of
the treasurers Office for preparing and
reporting the sales.
1t was originally proposed to include
In the bill provisions for q semi annual
collection Of taxes as substitute for
the annual collection made at the pres
ent time, but the county adminStra-
ton has decided against any step in
this direction during the current ses-
sion Of the State Legislature.
Bond Now Required.
Banks handling deposits Of the county
government are now required only to
PIot UOlo Sl6LlCu ny I'LL vi NlOAC
directors of the institution for the
protection Of county funds The meas
ure ready for introduction would re-
quire IN addition to this that the
banks put up bonds, mortgages or
deeds of trust in the amount of the
deposits as additional guarantee
II the bill meets with success the
county treasurer will collect all taxes
levied by the county commissioners
and all moneys payable to the county
from all sources and disburse the funds
under the direction of the county
board
This would include various fees
handled at present by the clerk to the
county commissioners, inclduing those
on building permits, Police Court fees
and sheriff's fees.
Under the terms Of the bill the treas
urer would deposit his collections each
day In banks designated by the COM
missioners that will agree to pay in
terest on the monthly balance of the
deposits at a rate equal to II Of / per
cent less than the Baltimore Clearing
House interest rate on Reserve bank
deposits.
Money received from interests on
such deposits would be utilized to re-
duce the annual budget levy, aiding
the commissioners in their efforts to
reduce the county tax rate The in
terest money would be placed in a spe-
c1al fund and q report of the amount
in the fund would be made to the
commissioners each year prior to their
drafting Of the annual levy.
Would Lower Tax.
This amount would then be de-
Quoted from the total amount levied
for the ensuing year, enabling the
board to reduce the tax rate they would
otherwise have to impose to raise funds
to carry out the budget
A great reduction in the present fee
Of $l6 charged for advertising and
handling property in delinquent tax
sales will be made possible if the bill
Is enacted. Savings in many cases
would be as much as $6 on each piece
OF property, county officials explained
Employees in the county treasurers
oh1ce would be given two weeks more
than they are allowed at the present
time to prepare the delinquent tax list
and 80 days longer to report the sale of
property to the judge OF the Circuit
Court for ratification.
The time extensions are necessary.
1t was explained, because delinquent
tax lists now include many more items
OF property for sale than they former
ly did when the original delinquent tax
sale bill was enacted by the General
Assembly and county employees REQUIRE
more time in their preparation and re-
porting