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Committee to treat and agree for Loan.
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III. When and so soon as any such Presentment as aforesaid shall have been duly certified by the Acting Clerk of the Crown, and the Sanction of the Commissioners of Public Works shall have been certified by the Secretary of the Grand Jury to the Committee so nominated and appointed therein, it shall be lawful for such Committee or any Three or more of them to treat, agree with, and contract for a Loan or Advance by any Party or Person willing to make the same on the Faith of such Presentment, to the Amount thereof, or such Part thereof as may be necessary, and also to agree and contract for the Rate of Interest (not exceeding the Limit aforesaid) to be paid in respect of such Loan or Advance, and the Terms of every such Contract and Agreement shall be reduced to Writing, on a certified Copy of such Presentment, and signed by the said Committee, or any Three or more of them, and by the Party or Person making such Loan or Advance, and delivered over to such Party or Person, and held by him as Security for every such Advance, until the whole of the Sum actually advanced, with Interest thereon as agreed upon, shall be fully paid off and discharged.
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