JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 255
SEC. 2. And be it enacted, That this act shall take
effect from the date of its passage.
Approved March 27, 1876.
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In force.
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CHAPTER 167.
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AN ACT to amend the fourth article of the Code
of Public Local Laws, by adding another section
thereto, in relation to investments on account of
the sinking fund.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That whenever the Commissioners of
Finance of the City of Baltimore, shall be authorized
by the Mayor and City Council of Baltimore, to in-
vest moneys belonging to the sinking fund of said
city, in annuities or ground rents, reserved out of the
lands leased to the Mayor and City Council of Balti-
more, and payable by the said corporation, the said
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commissioners may purchase such rents or annuities
and the reversions of such lands, and the conveyances
thereof taken may be made to the Mayor and City
Council of Baltimore, in trust for the benefit and
purposes of the said sinking fund, and in every such
case, such conveyance shall not work a merger of the
lease or term, but, until otherwise provided by law,
the rent or rents shall continue to be payable by the
Major and City Council of Baltimore as if such pur-
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May purchase.
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chase had not been made, but shall be received and
applied by the Commissioners of Finance as the in-
come of other investments of the sinking fund may
be applied.
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Received and
applied.
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SEC. 2. And be it enacted, That this Act shall take
effect from the date of its passage.
Approved March 27, 1876.
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In force.
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