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and may make advances in aid of works uncompleted and not yielding present tolls, &c. in certain cases;
and may take mortgages to secure repayment by instalments, &c.
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31. Provided further, that it shall and may be lawful to and for the said commissioners for the execution of this Act to make advances under this Act in aid, extension, or completion of any work projected or in part completed, and which may not yield any present rate, rents, receipts, tolls, or profits, or which may yield any rates, rents, tolls, or profits less in amount than double the amount of the interest on the advance sought for as aforesaid; provided that it shall be proved to the satisfaction of the said commissioners, upon competent evidence, accompanied by the certificate of a skilful engineer or surveyor, to be approved of by the said commissioners, that rates, rents, receipts, tolls, or profits, adequate to the payment and discharge of the said loan by instalments, the first thereof to be made within five years as aforesaid, and the whole completed within the period of twenty-five years from the date of the said advance, together with interest at a rate not less than four pounds per centum per annum on the principal from time to time remaining due, may be resonably calculated upon and expected to accrue or arise from such work or undertaking; and provided further, that the corporation, commissioners, trustees, directors, company, party, or persons undertaking or carrying such work into execution shall expend, subscribe for, secure, or deposit, in such manner as the said commissioners shall direct, before any advance shall be made under the provisions of this Act, a sum equal to not less than one third part of the estimated costs of the construction or completion of such work as aforesaid; and that in such cases it shall and may be lawful for the said commissioners for the execution of this Act to take and require, as a security for the due payment of the principal and interest on such advance by such instalments and at such rate of interest as aforesaid, and subject to such other clauses, restrictions, conditions, and regulations as the said commissioners shall think fit and necessary, a mortgage or assignment of the said work, and of all property of what nature or kind soever belonging thereto, and of all rates rents, receipts, tolls, or profits which shall in anywise accrue or arise or issue out of or from such works.
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