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Commissioners of Public Works, and Commissioners for Execution of Act 5 & 6 Vict, c. 9., may lend Money op Security of Tolls to be imposed on any Navigation.
No Advance without Consent of Treasury.
Monies lent to be repaid with Interest.
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XXXI. And be it enacted, That in either or any such Case of Navigation as last-aforesaid it shall and may be lawful for the Commissioners of Public Works in Ireland acting in execution of an Act made and passed in the First and Second Years of the Reign of His late Majesty King William the Fourth, intituled An Act for the Extension and Promotion of Public Works in Ireland, and the several Acts amending the same, or for the Commissioners appointed and acting under an Act passed in the Fifth Year of the Reign of Her present Majesty, intituled An Act to authorize the Advance of Money out of the Consolidated Fund to a limited Amount, for the carrying on of Public Works and Fisheries and Employment of the Poor; and to amend the Acts authorizing the Issue of Exchequer Bills for the like Purposes, or any Act or Acts for amending the same respectively, and they are hereby respectively empowered, if they shall think fit, from Time to Time, out of any Funds at their Disposal, to lend and advance any Sum which may be necessary for the Purpose of making any such River navigable, or improving the Navigation, thereof in connexion with Drainage, upon the Credit of the Rates, Tolls, and Duties to be imposed, raised, collected, and received for and in respect of any such Navigation, together with such other Security (if any) as the Commissioners of Her Majesty’s Treasury shall deem fit or require: Provided nevertheless, that no Advance of Money shall be made for any of the Purposes aforesaid unless with the Consent of the Commissioners of Her Majesty’s Treasury, or any Three or more of them; and that all such Monies so lent and advanced as aforesaid shall be repaid, with Interest thereon, as the said Commissioners of the Treasury shall direct, from and out of the Monies accruing to the Commissioners for the Execution of the said first-recited Acts and this Act out of the Tolls, Rents, and Rates to be levied and collected out of or in respect of any such Navigation.
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