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Commissioners of Public Works in Ireland may lend the Ecclesiastical Commissioners a Sum not exceeding 100,000l.
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XLV. ‘And whereas it is necesary, in order to enable the said Ecclesiastical Commissioners to provide for the Purposes heretofore defrayed by Vestry Assessment according to the Provisions of the said recited Act and this Act, that such Commissioners should be empowered to borrow a Sum of Money by way of Mortgage or Loan on the Credit of the Funds accruing to them under the Provisions of the said Act;’ be it therefore enacted, That it shall and may be lawful for the Commissioners acting under and in execution of an Act made in the Second and Third Years of the Reign of His present Majesty, intituled An Act for the Extension and Promotion of Public Works in Ireland, by and with the Consent and Approbation of the Lords Commissioners of His Majesty’s Treasury, to lend and advance to the said Ecclesiastical Commissioners such Sum or Sums of Money not exceeding in the whole One hundred thousand Pounds, as they shall think proper, to be repaid to the said Commissioners for the Extension and Promotion of Public Works in Ireland in such Manner and at such Times, with Interest for the same, at and after such Rate, not exceeding Four Pounds per Centum per Annum on the Sum or Sums so advanced, as the said Commissioners of the Treasury shall direct and require; and all Sums so lent and advanced shall, with the Interest from Time to Time accruing due thereon, be and the same are hereby charged upon all and every the Rents, Issues, and Profits of all Lands, Tenements, or Hereditaments, and the annual Tax and the Proceeds thereof, and all and every Sum or Sums of Money, or Securities for Money, vested in or which shall accrue to the said Ecclesiastical Commissioners and their Successors under and by virtue of the said Act, and all Interest, Dividends, Profits, and Proceeds thereof; and the said Ecclesiastical Commissioners are hereby authorized and required to pay such Sums of Money, and such Interest from Time to Time accruing due thereon, when and as the same shall become due and payable respectively, pursuant to the Order and Direction of the said Commissioners of the Treasury, from and out of the Produce of the said Rents, Issues, and Profits, and the said Tax, and the other Funds vested in or accruing to such Ecclesiastical Commissioners under the said Act, prior and in preference to any other Application thereof.
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