Dundalk Harbour and Port Act, 1925

Commissioners may borrow on credit of tolls and other property vested in them.

56.—It shall be lawful for the Commissioners from time to time, in addition to the monies borrowed under the Act of 1855, to borrow at interest from any person or corporation who may be willing to advance the same any sum not exceeding the sum of £150,000 on the credit of the several tolls by this Act authorised to be levied and other funds and property vested in the said Commissioners under this Act or any other Act; and for the securing the payment of any monies to be borrowed by virtue of or under the provisions of this Act with interest, the Commissioners may assign over the said tolls, funds and property or any of them to the persons who shall advance or lend any such money, or to any trustee for such persons, as a security for the payment of money so to be borrowed with interest for the same, and every such security shall be under the common seal of the Commissioners.