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SEC. 14. And be it enacted, That for the purpose of more
effectually securing the payment of said municipal bonds of
the corporation of Annapolis, at maturity thereof, and the
prompt payment of the interest thereon, the Treasurer of said
city shall, in each year, set apart from the money collected by
him under the annual levy of said city, a sufficient sum to pay
the annual interest on said bonds then outstanding, and also-
the sum of three hundred dollars; said sum of three hundred!
dollars per annum shall be deposited by him at interest in the
Annapolis Saving Institute, to the credit of a sinking fund
for the redemption of said bonds at their maturity, or when
called for redemption by said Mayor, Counsellor and Alderman ;
and the Mayor, Counsellor and Treasurer, for the time being,
shall be commissioners of said fund, and shall annually render
a particular account to the corporation of said city, of the con-
dition thereof, as required by the existing laws and by the
ordinances of said city; any bonds of eaid city purchased for
said fund, shall be immediately cancelled by stamping across
their face and across the face of the coupons thereof, "pur-
chased for the sinking fund; " and no portion of said sinking
fund or of its increase, shall ever be diverted to any other
purpose than to the purchase or redemption of eaid bonds.
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Redemption
of bonds.
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SEC. 15. And be it enacted, That the Mayor, Counsellor and
Alderman of the city ef Annapolis, the Board of School Com-
missioners of Anne Arundel county, and the Board of County
Commissioners of said county, are hereby authorized and
directed, as speedily as possible after the passage of this act,
to pass all such ordinances, orders or resolutions, and to make
all such appropriations as may be necessary, to have printed,
signed, advertised and sold, the bonds to be issued by them,
respectively, as required by this act, and to do all such other
acts as may be necessary to carry fully into effect the objects of
this act; and are further hereby authorized and directed,
respectively, in case of delay or failure in selling said bonds
or either of said issues tkereof hereby authorized, at least at
the par value thereof, at public sale, to borrow money, respec-
tively, at the current banking rates therefor, upon tiie note or
notes discounted, in the one case of the said School Commis-
sioners, endorsed by said Board of County Commissioners, up
to the amount twelve thousand dollars; and in the other case,
upon the note or notes discounted, of the said Mayor, Coun,
seller and Alderman, up to the amount of six thousand dollars ;
31
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Printing and
sale of, a
bonds, etc.
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