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Mode of Payment of compounded Debt.
30 & 31 Vict. c. clv.
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5. Of the said Sum of Sixty-five thousand Pounds, the Sum of Fifty-five thousand Pounds, deducting therefrom any Sum which may have accrued from Harbour Dues after paying Maintenance and other Charges connected with the Harbour alter the First Day of July One thousand eight hundred and sixty-six, shall be paid to the Commissioners of Public Works by an Annuity or annual Rentcharge calculated at the Rate of 4.0729 per Centum Principal and Interest, the same to be paid by half-yearly Instalments, for a Period of Fifty Years, on every First Day of May and First Day of November in each Year, commencing on the First Day of May One thousand eight hundred and sixty-eight, the said Annuity to be in the Form, as near as may be, in Schedule A. to this Act annexed, and to be chargeable and charged upon the Harbour Tolls, Rates, and Duties, and upon all Lands and Property of the Harbour Commissioners, and the remaining Sum of Ten thousand Pounds shall be a First Charge upon Wellesley Bridge at Three and a Quarter per Centum per Annum, as herein-after mentioned: Provided always, that it shall be lawful for the Commissioners of Public Works, out of the Money in their Hands received or to be received in respect of the Harbour Rates on account of the Limerick Harbour Commissioners from the Date of the last Payment into the Exchequer, to pay to the Harbour Commissioners the Sum of One thousand five hundred Pounds, to be applied by them to the Purposes of this Act and “The Limerick Harbour Act, 1867.”
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