Volume 24 · 501
Public Law 49–355
authorizing the Treasurer of the United States to credit the District of Columbia with certain moneys in lieu of investing the same in bonds.
Approved March 3, 1887
Statutory text
An Act
authorizing the Treasurer of the United States to credit the District of Columbia with certain moneys in lieu of investing the same in bonds.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the Treasurer of the United States, as Commissioner of the Sinking-Fund of the District of Columbia, shall not be compelled hereafter to invest money retained from District contracts hereafter entered into; but may, in his discretion retain said funds without interest, or invest the same in any class of United States, or District of Columbia bonds, at the request and at the risk, of the contractor, whenever the sum retained on any contract shall reach the sum of one hundred dollars or more. Any sum less than one hundred dollars shall be retained without interest as above.
Approved, March 3, 1887.