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ANNUAL INCOME TO BE EXPENDED BY THE MAYOR AND CORPORATION OF THE BOROUGH OF TOTNES UPON SUCH OBJECTS AND IN SUCH MANNER FOR THE BENEFIT WELL BEING AND IMPROVEMENT OF THE SAID BOROUGH OR THE REDUCTION OF THE RATES OF THE SAID BOROUGH AS SHALL FROM TIME TO TIME BE DETERMINED BY THE SAID MAYOR AND A TWO THIRDS MAJORITY OF THE MEMBERS OF THE SAID CORPORATION PRESENT AT MEETINGS SPECIALLY CONVENED.