                                 CODE OF VIRGINIA

FUNDS AND EXPENSES OF REGIONAL LIBRARY SYSTEM (§ 42.1-41)

The expenses of the regional library system shall be apportioned among the
participating political subdivisions on such basis as shall be agreed upon in
the contract. The treasurer of the regional library board shall have the custody
of the funds of the regional free library system; and the treasurers or other
financial officers of the participating jurisdictions shall transfer quarterly
to him all moneys collected or appropriated for this purpose in their respective
jurisdictions. Such funds shall be expended only for the library service for
which the county or city contracted and for no other purpose. The regional
library board shall furnish a detailed report of receipts and disbursements of
all funds at the regular meeting of the governing body of every participating
jurisdiction after the close of the state&#8217;s fiscal year. It shall make a
similar report to The Library of Virginia. The treasurer of the board shall be
bonded for an amount to be determined by the board. The board may authorize the
treasurer to pay bond premiums from state aid library funds.

HISTORY: 1970, c. 606; 1994, c. 64.