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Persons who have share in the profits arising from supplying the city with water, and who neglect to pay their proportion of the expences, such shares shall be sold by auction, and out of the sum received, the money due shall be ducted.
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LIX. And be it enacted by the authority aforesaid, That in case any person or persons, to whom any share or shares, dividend or dividends of the profits arising from supplying the said city with water, have been, or shall be granted under this or any of the said former acts, his, her, or their executors, administrators or assigns, shall at any time or times hereafter, neglect or refuse to pay to the said mayor, sheriffs, and commonalty, or their successors, his or their proportionable parts of all such sum or sums of money, as to the trustees appointed, or to be appointed by any order, regulation, or by law made, or to be made by the mayor, sheriffs, and common council of the said city, by any act or acts of council, confirmed by the court of doyer hundred, for carrying into execution the purposes in this, or any of the said former acts mentioned, or any five of the said trustees, have already ordered to be paid, or shall from time to time think necessary, and order to be paid, for or towards the expence attending the making, digging, cutting, repairing, and keeping in order, all and every the reservoirs, canals, trenches, water-courses, pipes, houses, edifices, buildings, and works, and also the like proportionable parts of all other the necessary costs and charges attending the same, it shall be lawful for the said mayor, sheriffs, and commonalty, and their successors from time to time, to sell by publick audion on the exchange change of said city, to the highest and fairest bidder, the said respective shares and dividends of such person or persons, his, her, or their executors, administrators and assigns, and the money arising by such sale or sales, to receive from the purchaser or purchasers of the said respective shares and dividends, and thereout to deduct all sum and sums of money so due by the person or persons, his or their executors, administrators, or assigns, whose shares or dividends shall be so sold, and the overplus, if any, to pay over to the person or persons respectively entitled thereto, and thereupon the said persons respectively, his, her, or their executors, administrators, and assigns, shall be from thenceforth for ever barred of all claim, right and title, or equity of redemption, in or to the shares or dividends so sold, and that the said shares and dividends so sold, and all profits, benefits, and advantages thereof, shall thereupon both at law and in equity, vest and be deemed and considered to be thenceforth vested in the purchaser or purchasers of said shares or dividends respectively.
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