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Every Loan to be issued by Instalments.
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XXVII. And be it enacted, That every Loan to be made by the said Commissioners of Public Works under this Act shall be made and issued by Instalments not exceeding at any Time One Fifth of the entire Sum, together with the Costs and Expences of Investigation as aforesaid, and that no second or any subsequent Instalment of any such Loan shall be made until it shall have been proved to the Satisfaction of the said Commissioners, in such Manner as they shall require, that the preceding Instalment has been properly expended on such Works or Improvement, pursuant to the Plan, Specification, and Estimate which shall have been sanctioned and approved of by the said Commissioners, or such other Plan, Specification, or Estimate as the said Commissioners may think fit from Time to Time to sanction and approve of: Provided always, that no One Instalment of any such Loan shall in any Case exceed the Sum of Five hundred Pounds.
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