|
|
Reservoirs or improved Water Power; Security for Money and Repayment.
Same Security for Monies as in Cases of Lands drained or improved.
|
XXVII. And be it enacted, That in all Cases of Monies to be borrowed from and after the First Day of January in the present Year, for the Construction of any Reservoir or Embankment, or for the Improvement of any Water Power of any Mill or Factory, under the Provisions of the said recited Acts or this Act, the respective Sums of Money which by the Award to be made by the said Commissioners shall be specified as the Assessments, Rates, or Taxes to be imposed for the Construction or Maintenance of any such Reservoir or Embankment, or for the Contribution payable in respect of any Mill or Factory towards the Costs and Expences of the Works executed in any District as aforesaid, also for the Maintenance of such Works, shall be charged with Interest (in Cases where under any such Award Interest shall be payable) at a Rate not exceeding Five Pounds per Centum per Annum, upon the Mills, Factories, Lands, or Properties which the said Commissioners by their Award shall declare to be benefited by the Construction of any such Reservoir, Embankment, or Works aforesaid, in like Manner and with like Priority, and with and subject to the like Provisions, as by this Act given and provided in respect of Monies charged on Lands in respect of Drainage under the said recited Acts or this Act; and the same respective Sums of Money, with such Interest for the same as aforesaid (where such Interest is payable), shall also be charged upon so much of any other Land situate within One Mile of any Part of any such Mill, Factory, Land, or Property to be declared by the said Commissioners benefited as aforesaid, and settled with the Mill, Factory, Land, or Property so declared to be benefited as aforesaid to the same Uses, Intents, and Purposes, by virtue of Limitations contained in the same Instrument or the same Set of Instruments, and also upon so much of any other Land belonging to the same Proprietor, as the Mill, Factory, Land, or Property so declared to be benefited, and situate within One Mile of any Part of the same, for all his Estate and Interest existing at the Time of the Declaration required to be made by the said Commissioners previously to the Execution of any of such Works, as the said Commissioners shall, by their Award, or any Instrument under their Hands and Seals, and enrolled in the Rolls Office, direct, limit, and appoint, having regard to the Sufficiency of the said Lands to satisfy and secure the Charge thereon, but subject, as to such other Land as aforesaid, to the full Amount of all other Incumbrances thereon affecting the same prior to the Registry of the Memorandum of such Declaration; and all the Powers, Authorities, and Provisions in the said recited Acts or either of them or this Act contained or provided for or relating to the Recovery and enforcing Payment of the Monies charged on Lands under the Provisions of the said Acts or either of them, or this Act, shall extend and apply to be Recovery and enforcing Payment of the Monies charged on Mills, Factories, Lands, or Property under the Provisions of this Act.
|
