City of London Borrowing Act 1845

JurisdictionUK Non-devolved
Citation1845 c. i
ANNO
OCTAVO
VICTORIB
REGINB.
Cap.
i.
An
Act to enable
the
Mayor and Coinmonalty
and Citizens
of
the City
of
London
to
raise
a Sum
of
Money
at
a
reduced Rate
of
Interest,
to pay
off
the Monies
now
charged
on
the Tolls
and Duties payable
by
virtue
of
several Acts
for
improving the Navigation
of
the
River
Thames
Westward
of
Londoiz
Bridge,
within the Liberties
of
the City
of
London;
&d
to
amend
some
of
the said Acts. [24th
April
1845.1
HEREAS an Act
was
passed
in
the Fourteenth Year
of
the Reign
of
King
George
the Third, intituled
An
lPG.3.c.91.
Act more efectually to improve and complete the
Naviga-
tion
of
the River
Thames
Westward
of
London Bridge
within the
Liberties
of
the
City
of
London
;
and to prevent any Vessel
or
Bnrge
fi’oiia
being moored
in
Taplow Mill Stream
in
the County
of
Bucks
:
And whereas an Act was passed in the Seventeenth Year
of
the
Reign
of
King
Geoige
the Third, intituled
An
Act
for
enabling
17G.9.c.1S.
the Mayor, Aldermen, and Commons
of
the City
of
London
to
purchase the present
Tolls
and Duties puyable
for
nnvigatin
upon
[Local.]
A2
tlie
4.
8"
VICTORIAE,
Cap.;.
the
River
Thames
Westward
of
London Bridge
zoithin the Libelsties
of
tJLe
City
of
London,
and
for
laying
a
small Toll
in
lieu tlzereuJ
for
the Purpose
fl
more efectually completing the said Ntrvigation
;
and
for
other Purposes:
And whereas by an Act passed in the
Fiftieth Year
of
the Reign
of
King
George
the Third, intituled
F~oG.~.c.~o~.
An
Act for amending, altering, and enlarging the Powers
?f
Two
Acts, pmsed
in
the Fourteenth and Seventeenth Yews
of
His
present
IlIajesty,
in
relation to the Navigation
of
the River
Thames
Westwcxrd
of
London Bridge
within
the
Liberties
of
the City
of
London
;
and
.for
the jurther Improvement
of
the said Navigrrtion,
the Mayor,
Aldermen, and Commons
of
the City
OF
London,
in Common Council
assembled, were empowered
fiom
Time to Time to raise by the
Sale of
Life
Annuities, or
by
borrowing and taking
IJ~
at Interest
any
Sum
or Sums
of
Money not exceeding Forty thousand Poxnds
upon
tile Credit of the Tolls and Duties to be made payable
in
pursuance
of
the said Act, and
by
any Writing or Writings
Linder
the
Common
Seal
of
the City of
London
to assign the Toll
€louses
and
Toll Gates to be erected
as
therein mentioned, md the
Tolls
and
Duties
to be made payable by virtue or in pursuance
of
the
said Act,
or any
of
\hem,
or
any Part or Parts thereof, to any silch Person
or Persons
as
shonld advance or lend such Money thereon,
as
a
Security or Securities for the Sum or
Sums
of Money
so
borrowed,
with Interest not exceeding legal Interest for the
same,
which
Interest should be payable and paid half-yearly by the Chamberlain
of the said City for the Time being, out
of
the Monies to arise by
or
fiom
the
said
Tolls
and Duties,
or
any other Money which should
be recovered or received under or by virtue
of
the said Act, and
paid into the O6ce
of
the
said
Chamberlain
:
And whereas
by
virtue
of
the said last-recited
Act
the said Mayor, Aldermen, and
Commons of the City of
London,
in Common Council assembled,
raised,
by
borrowing and taking up Sums
of
Money at Interest
after
tlie
Rate
of
Five Pounds
per Centum per Annum,
the
Sum
of
Thirty-three thousand nine hundred Pounds, and gave Bonds for
secwing the same: And whereas by another Act passed in the
Fifty-second Year of the Reign
of
King
George
the Third, intituled
522-3.
c.46.
An
-4ct
for altering,
cxinendzng,
and
enlcxrging tlie
Powers
of
Three
Acts
of'Elis
present 2.Wujesty7
for
inzprouing the Navigation
of
the
River
'lhames
Westward
of
London Bridge
within the Liberties
of
the
City
of
London
;
nndjor further improz'ing the said Navigation,
the several
Tolls
or Duties in and
by
the said recited Act
of
the
Fiftieth Year
of
the Reign of King
George
the Third authorized to
be
taken were repealed, and the Mayor, Aldermen, and Commons
of the City
of
London,
in Common Council assembled, were empow-
ered to take, recover, and receive, for
all
Barges and other Vessels
whatsoever which should be navigated upon
the
said River
Tlmnes,
or any Part thereof, between
London Bridge
and the City Stone
above
Xtaines Bridge,
or
upon or through any of
the
Locks and
Works, such
Sum
and
Sums
of Money in the Nature
of
a
Toll
or
'fluty,
Tolls
or
Duties, as therein are mentioned
;
and the
said
Mayor, Aldermen, and Commons, in Common Council assembled,
were empowered to raise any
Sum
or
Sums
of
Money, not exceeding
Seventy-five thousand Pounds, upon the Credit
of
the Tolls and
Duties made payable by virtue
of
the said Act now
in
recital, in
9
the
8"
VICI'ORIB,
Cap.
i.
5
the same RIanner as they were authorized to raise and secure the
said
Sum
of Forty thousand Pounds, in pursuance
of
the said last-
mentioned Act
;
and it
was
by the said Act now in recital enacted,
that
as
well
the Annnities sold, and
Sum
and
Sums
of
Money
borrowcd
as
aforesaid, in pursuance
of
the
said
last-recited -4ct,
and
Interest
011
thc said Snins of Money respectively, wliich were
respectively secured or intended to be secured by the Covenants and
Bonds
of
the Mayor and Coinii~onalty
znd
Citizens
of
tlie City
of
Loizdon
given for securing tlie Payment
of
the same,
as
the
Annuities to be sold, and the Sum or
Sunis
of
Money to be borrowed
for
rai5ing the Sum
or
Sums
of
Money by the Act now in recital
authorized to be raised, and Interest for the same Sum or
Sums
of
Money,
sliould
be paid and
payable
fioin Time to Time, out
of
and
ere
thereby charged upon tlie
Tolls
and Duties granted
and
inade payable by virtue
of'
the sid
Act
now in recital
;
and
all anti
every the Person or Persons
who
hacl
lent or
should
lend any
Sum
or
Sunis
of
Money towards the Suns
of
Money by the
said
last-recited
Act or the said Act now in recital authorized to be
raiscd
shodd
hve,
receive, and erijoy, out
of
the said Tolls and Duties granted
mcl made payable by virtue
of
the said Act now
in
recital, Interest
after the liate
of
Five Pounds
per
C'entuna
per
Annum
upon
the
Slim
or Sums
of
Money lent or to be lent by him,
her,
6r
them
respectively, in the Manner in the
said
last-nientioiied
Act
directed,
for Payment
of
the Interest
of
the Noney thereby authorizecl to be
borrowed
;
and
the Locks and other
Torks
by the said recited Act
and the Act
now
in recital authorized to be made, and the
Tolls
and Duties thereby granted, should be and the same were thereby
charged with and
inade
subject and liable to the Payment
of
the
Sums
of
Money
so
borrowed and to be borrowed
as
aforesaid
:
And
mherens by virtue
of
the said Inst-recited Act the
Sum
of
Seventy-five
thousand Pounds was raised by borrowing Money
at
Interest
:
And
whereas by an Act passed in the Fifty-fourth Year
of
the Reign
of
King
GeoiFe
the Third, intituled
Ai2
Act
$x*
nltering,
nnzending,
54G.3.c.223.
crnd
cnl~iigzng
the
Powers
of
Fozir
Acts
qf'
His
present
Majesty,
for
iniproving
the
i\Tcruigntioi2
of
the
River
Thames
Westiciard
of
London Bridge
within
the
Liberties
of
the
City
cj
London
;
crncl
jbi.
fiutlier
i1721~00i17g
the
said
Nauigation,
the said Mayor, A41dernieri,
'and
Commons
of
the City of
Lo72don,
in Common
Council
assembled,
were empowered to
take,
recover, ai~l receive, in addition to the
Tolls
and
Duties made payable by tlie recited A4ct
of'
the Fifty-second
Year
of'
the lieigii
of
King
Gebge
the TI:iid, for every Barge
01
other Vessel using
tlie
Lock thereby authorized to be inade at
Pento,i
HooJc
in the Parish
of
Xtctines
in
the County
of
il!fiddle.sea,
or navigatinq upon the
said
River
so
as
to go beyond
or
past tile
saicI
Lock
\wtliout using or passing through the same, the Toll
or
Duty therein mentioned
;
and
the said Afayor, Aldermen, and
Commons,
in
Coininon Council assembled, were empowered to raise,
fi*om
Time
to
Time, any
Sum
OF
Sums
of
Money not exceeding
Seventy thousand Poiinds, lipon the Credit of the Toils and Duties
made payable by virtue cif the said last-recited Act and the said Act
iiow
in
recital,
by
the Sale
of
Life Annuities, or by borrowing
and
taking up Money at Interest not exceeding legal Interest,
upon
It301icl
or
Boiids,
or by both, in the same Manlier
as
they were
[
Locnl.]
B
authorized
8"
VICTORIa,
cap.;.
authorized to raise the
Sum
of Seventy-five thousand Pounds by the
said last-recited Act; and it was by the said ,4ct now in recital
further enacted, that
as
well the Annuities sold, and the Sum and
Sums of Money borrowed
as
aforesaid, in pursuance of the
said
recited Acts
of'
the Fiftieth and Fifty-second Years of the Reign of
Icing
George
the Third, and Interest on the said Sums of Money
respectively, which were respectively secured or
in
tended to be
secured by the Covenants and Bonds of the said Mayor and
Corn-
inonalty, and Citizens,
as
in the
said
last-recited Act is mentioned, as
the Annuities to be
sold,
and the Sum or Sums of Money to be
k)orrowed for raising the Sum or Sums of Money by the said Act
now
in recital authorized to be raised, and Interest for the same
Slim
or Sums of Money, should be paid and payable
from
Time
to
Time out of and were thereby charged upon the
Tolls
and Duties
3
cryanted and made payable by virtue of the said last-recited i4ct
and the said
L4~t
now
iri
recital
;
and all and every the Persoii or
Persons who had lent or should lend any Sum or Sums of'Money
towards the Sums
of
Money by the said Two last-recited Acts or
the said Act now in recital authorized to be raised should have,
receive,
and
enjoy, out of the said Tolls arid Duties ganted
ancl
made payable
by
virtue of the said last-recited Act
and
tlie said
Act now in recital, Interest after the Rate of not exceeding Five
Pounds
per
Centum
per
Annum
upon
the
Sum
or Sums
of
Money
lent or to be lent by
him,
her, or them respectively, in the Rlanner
in the said
Two
last-mentioned Acts directed or referred to for
Payment of the Interest
of
the Money thereby respectively autho-
iized to be borrowed
;
and the Locks and otlier Works by the said
recited Acts and the said Act
now
in recital directed
to
be made,
and
as
well the
Tolls
and Duties thereby granted as the Tolls ancl
Duties granted
by
the said last-recited Act, should be and the same
were thereby charged with and made subject and liable to the
Payment of the Sums
of
Money borrowed and to be borrowed
as
aforesaid, and of the Annuities purchased arid to be purchased as
aforesaid
;
and it was by the said Act now in recital further enacted,
that
it should be lawful for the
said
Mayor, Aldermen, and Commons
of the City of
Londoi.2,
in Common Council assembled, or the Com-
inittee or Corninittees to be appointed by them
as
therein is mentioned,
and they were thereby required, from Time to Time
to
set apart,
from and out of the Produce of the Tolls ancl Duties made payable
by the said last-recited Acts and the said Act now in recital, the
Sums
of
Money herein-after mentioned, (that
is
to say,) within
the
Space of'Three Calendar Months nest after
tlie
passing of the said
Act the Sum of One thousand Pounds, and yearly and every Pear
after the passing of the said ,4ct, until all the Monies borrowed or
raised by virtue of the said recited Acts and the said Act now
in
recital
should
be fully discharged, such Sum or Sums
of
Money as
the said Mayor, Aldermen, and Commons of the City of
London,
in
Coininon Council assembled, or such Committee or Committees as
aforesaid, should from Time to Time direct, not being less in Amount
than the Suin of Five hundred Pounds
per
Annum,
and to pay and
apply
the said Sums
of
Money (except the said Sum of One thousand
Ponnds) fiwn Time to Time either in discharge
of
any Sum or
Sums of Money borrowed or raised or to be borrowed or raised
bY
8"
VICTORIE,
Cup.
i.
7
by virtue of the said recited Acts or any
of
them,
or
the said Act
now in recital, or to invest the same, and also to invest the said Sum
of
One thousand Pounds, at Interest, upon
any
Real Security, or in
the Purcliase of Stock in any of the Public Funds, in the Name
of
the Chamberlain, Town Clerk, and Comptroller of the said City
of
Loizdon
for
the
Time being, and from Time to 'rime, as and when
the same should become payable, to invest the Interest and Dividends
of any Monies
so
put out at Interest, or invested in such Funds,
in
any of the aforesaid Securities or
Funds,
and afterwards, at such Time
or Tinies as should
also
be determined npon by the said Mayor,
Aldermen, and Commons, in Coininon Council assembled,
or
any
Coininittee or Committees
as
aforesaid to be appointed by them,
to
call in the said Monies, or to sell, assign, transfer, and dispose
of
the said Secririties or Stock
so
to be purchased and accumulatecl,
or any Part thereof, and to apply the Monies arising thereby, and
any Part of the Interest or Dividends thereof which may not have
been invested or laid
out
in the said Securities or Funds, in paying
and discharging any Sum or
Sums
of Money as aforesaid
;
provided
always, that t!ie said Securities or Stock to be purchased with the
saidoriginal Sum
of
One tliousancl Pounds should not
be
sold out
as aforesaid until the same should be sufficient to discharge all the
Sum
and Sums of Money aforesaid which
should
then remain unpaid
;
and it was further en'acted, that in case at any Time during the
Continuance of the Fund therein-before provided for paying and
discharging the Sum or Sums of Money borrowed
and
raised anti
to
be borrowed and raised by virtue of the said recited Acts and the
said ,4ct now in recital, any such Sum or
Sums
of Money should
be
paid and discharged as aforesaid, then and in every such Case the
yearly Sum or
Sums
of
Money
to
be set apart out of the said
Tolls
and Duties, and applied
;is
aforesaid,
should
not be
less
than the
Amount of the Interest which would have been payable in respect
of
all
and every the said Sum
or
Sums of Money which had been
paid
off
and discharged, in case the same had remained unpaid,
besides and in addition to the said
Sum
of Five hundred Pounds
per
Aiznim:
And whereas by virtue
of'
the said last-recited Act the
Sum
of'
Fifty-nine thousand eight hundred Porincls
was
raised by
borrowing Money
at
Interest: And whereas by an Act passed in
the Fifth Year of the Reign of King
George
the Fourth, intituled
An
Act to
ennble
the Mayor and Coinnzonalty
nnd
C'itizens
of
the
City
SG
1.
of
London
to
!raise
a
Xzwa
of
Ilfomy
nt
a
reduced Rate
of'
hzterest,
io
puy
?f
the
zWonies
iaow
dharged
on
the
Tolls
and Duties
payable
by
virtue
of
I;'ozu
Acts
Ofthe Reign
$His
late
Jfajesty
Kifzg
George
the Third,
foT
improving
the
Navigation
of
the
River
Thames
Westztiard
of
London Bridge
within
the
Liberties
of
the
City
of'
London, the Mayor and Alderinen
of
the said City of
Lo12dok
were empowered to give such Notice
as
therein mentioned of their
Intention to pay
off
the Principal Monies charged by virtue of the
said recited Acts, and at the End of Six Calendar Months next after
such Notice, upon Payment or Tender
of'
the Principal Sun1
of'
Money, with Interest to the Day
of
such Payment
or
Tender, the
Interest payable in respect thereof' was to cease, but subject to
a Provision in the said Act now in recital contained, whereby
it
was
enacted, that if the Person
or
Persons entitled to any
Sum
of Money
charged
12
).
8'
VICTORIAE,
CUP.
i.
charged
by
vii.tue of the therein and herein recited Acts, or any
of
them,
as
therein mentioned, should be willing to accept Interest
after the reduced Rate of Four Pounds
per Centunz per
Annum
in
respect tliereof, and should produce the Bond by which any Sum of
Motley should be secured in manner therein mentioned, and permit
a
Memorandum
to
be endorsed thereon of the Acceptance
of
such
reduced Interest, then and in every or any such Case the Interest
secured by such Bond should be reduced accordingly, and should
not be paid
off
by virtue of the Provision therein-before contained
;
and by the said Act now in recital the said Mayor, Aldermen, and
Comm"ons, in Common Council assembled, were empowered to raise
fiom
Time to Time any Sum of Money, not exceeding One hundred
and seventy thousand Pounds, upon the Credit
of
the aforesaid
Tolls
and Duties, by borrowing and taking up the same at Interest not
exceeding the Rate of Four Pounds
per
Centuin
per
Annum,
upon
Bond or Bonds, in the same Manner, with the like Notices, Powers,
and ,4uthorities, and subject to the like Provisoes, Limitations, and
Restrictions, as the Sums of Money borrowed for raising the said
Sums of Thirty-three thousand nine hundred Pounds, Seventy-five
thousand Ppun ds, and Fifty-nin e thousand eight Iiun d red Pounds,
in pursuance of the said therein and herein recited Acts, were
borrowed and secured respectively: And whereas by virtue
of'
the
said last-recited Act the Sum of Eight thousand four hundred Pounds
was
raised by borrowing Money at Interest at the Rate
of
Four
Pounds
per
Centum
per
Annum,
for the Purpose of paying
off
Bonds
the Holders
of
which refused
to
receive Interest at the Rate of Four
Pounds
per Centuna per
Annum:
And whereas the said Sums
of
Thirty-three thousand nine hundred Pounds, Seventy-five thousand
Pounds, Fifty-nine thousand eight hundred Pounds, and
Eight
thousand four hundred Pounds, amount altogether to the Sum
of
One hundred and seventy-seven thousand one hundred Pounds
:
And whereas in pursuance of the Provisions
of
the said Acts the
Sum of Thirty-six thousand Pounds, Part of the said Sum
of
One
hundred and seventy-seven thousand one hundred Pounds,
has
been
paid
off,
which reduces the Amount
of'
the Principal
Sums
borrowed
by
virtue of the said recited Acts, and remaining unpaid, to the Sum
of One hundred and forty-one thousand one hundred Pouiids, and
the Interest payable in respect of the same amounts to the Sum of
Five thousand six hundred and forty-four Pounds
:
And whereas
the
said
Mayorj
Aldermen, and Commons, in Common Council assembled,
have
fiom Time to Time advanced and lent to the said Fund several
Sums of Money, amounting together to the Sum
of
Twenty-five
thousand five hundred Pounds, for which no Interest has been paid
:
And
whereas the Fund directed to be purchased with the original
Sum of One thousand Pounds, and to be accumulated,
by
the
said
Act of the Fifty-fourth Year
of
the Reign of King
Geoqye
the Third,
for paying
off
the said Monies, now amounts to
the
Sum
of
One
thousand two hundred Pounds and Eight-pence New Three Pounds
Five Shillings
per Centuna
Bank Annuities
:
And whereas it is
expedient that
so
much of the said Act of the Fifty-fourth Year
of
the Reign of King
George
the Third
as
directs that the said Fund,
now consisting
of
One thousand two hundred Pounds and Eig.ht-pence
New Three Pounds Five Shillings
pel.
Centum
Bank Annuities, shall
7
not
8’
VICTOKIE,
cup.
i.
9
not be sold, should
be
repealed, and that the said Mayor, Aldernien,
and Commons, in Conimon Council assembled, should be empowered
to sell the said
Sum
of One thousand two hundred Pounds and
Eight-pence New Three Pounds Five Shillings
per
Centuin
Bank
Annuities, and to apply the same in part Discharge of the said Sum
of One hundred and forty-one thousand one hundred Pounds
:
And
whereas an Offer has been made to
the
said Mayor, Aldermen, and
Commons of
the
said City of
London,
in Common Council assembled,
to advance a Sum of Money on the Credit of the said Tolls and
Duties at a reduced Rate
of
Interest, but not less than Three
Pounds
per Centunz per
Annurrt
:
And whereas, if the said Mayor,
Aldermen, and Commons of the said City were empowered to
raise such a Sum of Money on the said
Tolls
and Duties
at
a
reduced Rate
of
Interest, and therewith to pay
off
the Sums of
Money now charged upon the said Tolls and Duties as aforesaid,
the Interest payable out
of
the said Tolls and Duties would be
lessened, and the said Principal Monies charged thereon would be
sooner discharged; but the same cannot be effected without the
Authority
of
Parliament
:
May it therefore please Your Majesty
that it may be enacted; and be it enacted by the Queen’s most
Excellent Majesty, by and with the Advice and Consent of the
Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the Authority
of
the same, That from
l’owr
to
pay
and after the passing of this Act it shall be
lawful
for the Mayor,
Off
charged
Aldermen, and Cominons of the said City
of
London,
in Common
on
Tolls
Couiicil assembled, (if they shall think proper,) to cause Notice to
uron
giving
be given Three Times in the
London
Gazette
of
the Intention to
SIX
Mmhs
pay
off
the said Principal Monies charged by virtue of the said
Notice*
several recited Acts or any of them, and shall annex to such Notice
a Copy of this present Clause
;
and at
the
End
of
Six Calendar Months
next after such Notice, upon Payment
or
Tender
of
the said Principal
Sum
or Sums
of
Money, together with the Interest for the same up
to the Day of such Payment or Tender, to or for the Person or
Persons then entitled thereto or to
give
a valid Receipt and Discharge
for the same, at the Office
of
the Chamberlain of the said City
of
London
for the Time being in the Guildhall
of
the
said
City, the
Interest payable in respect of the same respectively
shall
cease and
be no longer payable.
11.
Provided always, and
be
it enacted, That
if
the Person
OF
If’
Holders
Persons entitled to any Sum
of
Money charged by virtue
of
the
agrfe
to
ac-
said recited Acts or any
of
them, or entitled thereto as Executor or
ceptreducecl
Administrator, Trustee,
or
the
Guardian or Guardians of any Infant
Interest
or
Infants, or the Committee or Committees
of
any Lunatic entitled
~ithin
‘~JHY~
thereto, shall be willing
to
accept a reduced Rate of Interest, not
~~~~~~f~r
less than Three Pounds
pel.
Centum
per
Annum,
in respect thereof
B~~~I~
to
respectively, and shall within Three Calendar Months next after
be
paid
off.
such Notice
as
aforesaid shall have been given by the
said
Mayor,
Aldermen, and Commons, in Common Council assembled, produce
at the Ofice
of
the Chamberlain of the said City the Bond by
which such
Slim
of
Money and the Interest thereof respective$
shall be secured, and permit a Memorandum
to
be endorsed, printed,
or written thereon by any of the Clerks
of
the said Chamberlain,
of
the Acceptance
of
such reduced Interest, then and
in
every or any
of
Bonds
[Local.]
C
s11ch
10
8"
VICTORIIZE,
Cup
I
i
.
such Case the Interest secured
by
such Bond respectively shalt
be
reduced accordingly, and the Principal Money thereby secured
shall not be paid
off
by virtue
of
the Provision herein-before
contained.
corporation
111.
And
be
it enacted, That it shall be lawful for the said Mayor,
emllqwered
Aldermen, and Commons, in Common Council assembled, or any
to
raise
,41,100z.
Committee or Committees authorized by them, and they are hereby
in
tile
same
empowered, to raise
from
Time to Time any Sum or Sums
of
Money,
hlanner
as
not exceeding One hundred and forty-one thousand one hundred
under
Acts
Pounds, upon the Credit
of
the Tolls and Duties made payable by
50
G.3.c.204.
~2G.9,~.
46.
virtue
of
the said recited Acts
of
the Fiftieth, Fifty-second, and
:Ind
59~;.
3.
Fifty-fourth Years
of
the Reign
of
King
George
the Third, by
c*.
223.
borrowing and taking
up
at Interest, not exceeding Four Pounds
per Centunz per
Annum,
in the same Manner, with the like Notices,
Powers, and Authorities, and subject to the like Provisoes, Restric-
tions, Limitations, and Directions, ancl to be secured in
the
same
Manner,
as
the Sums of Money borrowed
for
raising the said
Sunis
of Thirty-three thousand nine hiindred Pounds, Seventy-five thousand
Pounds, and Fifty-nine thousand eight hundred Pounds, in pursuance
of'
the said recited Acts, were borrowed and secured respectively.
IV.
And be it enacted, That
so
much of
the
said recited Act of
mch
Of
the Fifty-fourth
Year
of the
Re!gn
of'
King
George
the Third
as
enacts or provides that the Securities or Stock to be purchased with
the original Sum
of
One
thousand Pounds therein mentioned shall
not be sold out until the sane shall be suficient to discharge
all
the
Sum and Sums of Money therein aforesaid which shall then remain
unpaid, be and the same is hereby repealed.
Repeal
of
54
G3.
c.223.
as
prohibits
Sale
(,f
the
Investment
Or
l,Occl
V.
And be it enacted, That it shall be lawful for the said Mayor,
RW~
f~sell
Aldermen, and Commons, in Common Council assembled, or such
1~2001.*s*8d*
Committee or ~oinmittees
as
aforesaid, to sell, assign, transfer, ancl
Ncw
3;
per
c-enent.
Annui-
dispose
of
the aforesaid Sum of One thousand two hundred Pounds
ties,
and
ap-
and Eight-pence
New
Three Pounds Five Shillings
per Centuin
Bank
P~Y
the
Pro-
Annuities, or any Part thereof,
and
to apply the Money arising
fiom
such Sale, and all or any Part of the Dividends
of
the
said
last-
ceeds
in
dis-
charge
of
the
Debts.
mentioned Bank Annuities until such Sale, in paying or discharging
any Sum
01-
Sums
of
Money borrowed or to be borrowed pursuant
to the Powers and Authorities contained in the said recited Acts
and this Act, or any
of
them.
VI.
And be it enacted, That for the Purpose
of
Payment
of
any
Pu~ver
from
of
the Monies already borrowed under or
by
virtue of the Powers
Time
to'fime
toborro\v
and Authorities in the said recited Acts or any
of
them contained,
fi'ioney
to
or which may hereafter be borrowed under or by virtue
of
the
ray
offeu-
Powers and Authorities contained in this Act, including any Monies
to
be borrowed under this present Provision, it shall be lawfiil for
jsting
Debt
at
reduced
Interest
.
the said Mayor, Aldermen, and Commons, in
Common
Council
assembled,
or
such Committee or Committees as aforesaid, to borrow
and
take
np
at Interest
frorn
Time to Time
any
Sum or
Sums
of
Money
not
exceeding in Amount the Sum or Sums
of
Money to be
SO
paid
off
as
aforesaid,
upon
the Credit
of
the
Tolls
and Duties
made payable by virtue
of'
the said recited Acts
of
the Fiftieth,
6
Fi
fty-second,
Fifty-second,
and
Fifty-fmrth Years
of
the
Beign
of
King
@wge
the Third, in
the
same Manner,
and
with the
like
Notices,
Powers,
and Authorities, and subject
to
the like Provisoes, Eestrictions, and
Limitations, except as regards the Rate
of
Interest, and to
be
secured
in
the
same Manner,
as
the Money authorized to
be
raised
by
such
last-mentioned Acts, and
so
from
Time
to
Time
so
often
as
the same
may be required
;
provided always, that
all
Monks
to
be raised
by
virtue
of
this
present Provision shall be applied
solely
to the Payment
of other Principal Monies borrowed or to be borrowed under
OF
by
virtue
of
the said recited Acts and this Act, or
Borne
OF
One
of them.
VII.
And be
it
enacted, That the Sum and
Sums
of Money
to
be
The
Money
borrowed for raising the
Sum
or Sums of Money
by
this Act
to
bebor-
authorized to be raised, and Interest for the same
Sum
or
Sums
of
thisActtobe
Money, shall be paid and payable fiom Time to Tilne out
of
and
charged
are hereby charged upon the
Tolls
and Duties granted
and
made
upon
the
payvable by virtue of the said recited Acts
;
arid
all
and every the
Tolls.
Person or Persons
who
shall lend any Sum
or
Sums
of
Money
towards the Sums of Money by this Act authorized
to
be
raised
shall
have, receive, and enjoy, out of the
said
Tolls and Duties
panted and made payable by virtue
of
the said recited Acts,
Interest after the Rate of not more than
Four
Poundsper
Centma
pel.
Aizizuiiz
upon the
Sum
or Sums
of
Money to be lent by him,
her, or them respectively, in the Manner in the said Acts of the
Fiftieth, Fifty-second, anh Fifty-fourth Years
of
the Reign of King
George
the Third directed
or
referred
to,
for Payment
of
the
Interest of the Money thereby respectively authorized
to
be bor-
rowed; and the Locks and other Works by the said recited Acts
directed to be niade, and the Tolls and Duties thereby granted,
sliall be and the same are hereby charged with and made subject
and liable to the Payment of the Sums of Money borrowed and to
be borrowed as aforesaid
;
and the Bonds and other Securities to be
given
in
pursuance
of
this Act for the Payment
of
the said
Sums
of Money, and Interest thereon,
shall
be assignable by Endorsement,
and the same, and the Assignments and Transfers thereof respectively,
shall
be entered in such Book or
Books
by the Clerk for the Time
being
of
such Committee as is
by
the said recited Acts nientioned
or referred to and directed in ;elation to the Securities thereby
authorized to be given.
rowed
under
VIII.
And be it enacted, That the said recited Acts
of
the
Powers
of
Fourteenth, Seventeenth, Fiftieth, Fifty-second, and Fifty-fourth Years
former
Acts
of
the Reign
of
King
George
the Third, and the Fifth Year of the
(exceptedas
altered,
&c.)
Reign
of
King
Geoyge
the Fourth, and each and every of them,
extended
to
(save and except
such
Parts thereof as are altered and repealed,)
this
Act.
be in full Force and Effect, ant1 are hereby confirmed, and shall
extend
and
are
and
is hereby extended to and shall take effect,
operate, and be put in execution, used, exercised, applied, and
enforced for the Purposes of this Act,
or
in anywise relating thereto,
in the same Manner, and
as
fully
and
effectually, to all Intents,
Effects, Constructions, and Purposes, as if the several Provisions,
Powers, Authorities, Orders, Rules, Regulations, Limitations,
Restrictions,
12
8"
VICTORIX,
Cap.
i.
Restrictions, Prohibitions, Directions, Exemptions, Indemnities,
Penalties, Forfeitures, Remedies over, Matters and Things, (except
as aforesaid,) in the said recited Acts and each and every of them
contained, were here repeated and re-enacted, and as if the Sum
or Sums
of
Money hereby authorized to be borrowed or raised had
been Part
of
the Sums
of
Seventy-five thousand Pounds and Seventy
thousand Pounds, by the said Acts of the Fifty-second and Fifty-fourth
Years of the Reign
of
King
George
the Third authorized to be
borrowed and raised
as
aforesaid, but subject to
the
Amendments,
Alterations, and additional Provisions in the said last-recited Acts
and this Act respectively contained.
Application
IX.
And be it enacted, That the said
Sum
of'
One hundred
and
oftheMo*eY
forty-one thousand one hundred Pounds, or
so
much thereof as
shall be
so
raised as aforesaid, (after Payment thereout, or
out
of'
the
raised.
said Tolls and Duties,
of
the Expences
of
obtaining and passing this
Act,
and which Expences it shall
be
lawfLil to retain and pay
accordingly,) shall be applied in discharge
of
the Principal Monies
borrowed by virtue of the said recited Acts, and authorized by this
Act
to
be dischFrged.
Act, and shall be judicially taken notice of as such.
Public
Acto
X.
And be
it
enacted, That this
Act
shall be deemed
a
Public
LONDON
:
Printed by
GEORGE
E.
EYRE
and
ANDREW SPOTTISWOODE,
Printers to the Queen's most Excellent Majesty. 1845.

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