222

LAWS OF MARYLAND.

money or investments, if any, in said sinking fund at the end

of said first four years, and the par value of all the bonds out-

standing in such year ; so that by said accretions of interest and

annual contributions, the sinking fund will be sufficient in

amount at the maturity of said bonds to redeem all of them

Annual con-
tributions to

outstanding. Said annual contributions to the sinking fund

the fund.

shall be made wholly from the surplus moneys, realized by said

special sewer tax, and remaining after the payment of the in-

terest accrued during such year on said bonds, if such surplus

shall be sufficient for the purpose : and if insufficient, then the

whole of such surplus shall be applied to said contribution,

and the deficiency shall be made up and paid out of general

revenues of the Mayor and Common Council of Hyattsville

realized by taxation ; and if in any year there be no surplus,

then the whole contribution of said sinking fund shall be paid

out of said general revenues. And if in any year said surplus

shall be more than sufficient to pay said contribution to said

Extending

sinking fund, the excess shall be set apart and applied to the

sewer system.

extension and improvement of said sewerage system. The

moneys contributed to said sinking fund shall be promptly de-

posited in one or more strong banks at interest, and said con-

tributions and accretions of interest may be invested in the

purchase of any of the registered municipal bonds or stock

of the City of Baltimore, or other municipal corporations of

the State of Maryland, or in the bonds of the State of Mary-

land, which in each instance shall be registered in the name

of the Mayor and Common Council of Hvattsville. or of the

Treasurer thereof in his official capacity, or may be invested in

the purchase of any of the bonds authorized to be issued by

this Act : and in case of any investment by the purchase of any

of the bonds to be issued under this Act, the same shall be

immediately cancelled and carefully preserved until the entire

Cancelled

issue of said bonds shall have been purchased or paid and

bonds to be

cancelled, whereupon all of them shall be destroyed in the

destroyed.

presence of such witnesses as may be designated by the Com-

mon Council, and a careful record of their destruction shall

be made and preserved in the books of the Treasurer.

SEC. 2. And be it enacted, That Section .18 of Chapter 631

Conflicting

of the Acts of the General Assembly of Maryland of the Ses-

laws repealed.

sion of 1902, and Section 35 of said Act and all other Acts and

parts of Acts of the General Assembly of Maryland relating

to the Mayor and Common Council of Hvattsville, in so far as

the same are or may be in conflict with this Act, but no further,

be and the same are hereby reapealed.