[HISTORY: Adopted by the Legislature of the County of Monroe 6-7-1977 by L.L. No. 2-1977. Amendments noted where applicable.]
Whenever the County Controller accepts a deposit of securities in lieu of retained percentage as required by § 106 of the General Municipal Law, he shall, as authorized by § 106-a of the General Municipal Law, impose and collect from the contractor the service charge of one-fourth of one percent (1/4 of 1%) of the value of the securities deposited as such value is determined by the County Controller after consultation with dealers in municipal securities. This charge will be accepted for services connected with the original deposit of securities, clipping of coupons and other processing and servicing until the termination of the contract.