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sioners of

penses to be

paid by im

provement rates, &c. the

sewers have incurred any expenses authorized by the commissaid Act of the eleventh and twelfth years of Her Majesty, sewers have chapter one hundred and twelve, to be paid by an im- incurred exprovement rate, or as charges for default (h), it shall be lawful for the metropolitan board of works (i) to levy improvement rates or charges for default for the recovery metropolitan of the whole of such expenses, or such portion thereof as levy such shall still remain due and unpaid, in the manner directed by the said Act, and the said board shall have all the rights and remedies for the recovery thereof which are now vested in the metropolitan commissioners of sewers in this behalf.

General Powers to Metropolitan and District Boards

and Vestries to borrow.

board may

rates as remain due.

boards and

CLXXXIII. It shall be lawful for the metropolitan Power to board and every district board and vestry, for the pur- vestries to poses of defraying any expenses incurred or to be in- borrow curred by them in the execution of this Act (7), to borrow mortgage(k).

(h) The chief provisions relating to improvement rates and charges for default were contained in 11 & 12 Vict. c. 112, ss. 46, 48, 49, 50, 54, 82; 12 & 13 Vict. c. 93, s. 11, and 18 Vict. c. 30, s. 30.

(i) The 11 & 12 Vict. c. 112, ss. 132, 141, empowered the commissioners to raise these sums by distress and sale. The powers of the board for the recovery of these rates and charges are now to be exercised by the appeal committee. See 25 & 26 Vict. c. 102, s. 30, post.

(k) By the 21 & 22 Vict. c. 104, s. 4, et seq., the metropolitan board are empowered, with the consent of the commissioners of the treasury, to raise the sum of three million pounds for the works of main drainage to be executed under that Act, and the commissioners of the treasury are authorized to guarantee the payment of the principal and interest, and issue sums required for payment out of the consolidated fund. The 25 & 26 Vict. c. 102, s. 19, post, provides that any party lending money shall not be bound to inquire into the application of the money borrowed, or the regularity of the proceedings.

(1) By sect. 72 of 25 & 26 Vict. c. 102, post, vestries and district boards are empowered to borrow money for improvements within their parish or district.

H

money on

and take up at interest, on the credit of all or any of the monies or rates (e) authorized to be raised by them under this Act, any sums of money necessary for defraying any such expenses; and for the purpose of securing the repayment of any sums so borrowed, together with such interest as aforesaid, such board or vestry may mortgage and assign over to the persons by or on behalf of whom such sums are advanced the respective monies or rates upon the credit of which such sums are borrowed; and the respective mortgagees shall be entitled to a proportion of the monies or rates comprised in their respective mortgages, according to the sums in such No priority mortgages mentioned to have been advanced; and each mortgagee shall be entitled to be repaid the sums so advanced, with interest, without any preference over any other mortgagee or mortgagees by reason of any priority of advance or the date of his mortgage: Pro

amongst

mortgagees.

(e) This appears to confer a power to mortgage all the rates for any of the purposes of the Act, and not to render it necessary that the security should be confined to those rates which are specially applicable to the particular class of expenditure, such as the sewers rate for sewers, the general rate for paving, &c. That seems to result from the general terms of the enactment which, moreover, omits the restrictions which were contained in the 107th section of the Public Health Act (11 & 12 Vict. c. 63), making it incumbent upon local boards, so far as practicable, to borrow on the credit of particular rates, a provision which was found inconvenient in practice, and has since been repealed and replaced by the provisions contained in the 57th sect. of the Local Government Act, 21 & 22 Vict. c. 98. The question is not of much importance as regards monies borrowed by the metropolitan board for their general purposes, as their assessments are paid out of the sewers rate. But it does involve some material considerations with respect to the monies borrowed by vestries and district boards. The regulation embodied in the last cited provision of the Local Government Act, prohibiting borrowing except for permanent works, and imposing other conditions, seem to furnish a safe rule of guidance for the vestries and district boards of the metropolis, and they are also substantially in accordance with the terms of the sanction usually granted by the metropolitan board under this section.

vided always, that no monies shall be so borrowed by any district board or vestry without the previous sanction in writing of the said metropolitan board.

commis

14 & 15 Vict.

make ad

vances (f).

CLXXXIV. It shall be lawful for the commissioners Power to acting in the execution of an Act passed in the session sioners actholden in the fourteenth and fifteenth years of Hering under Majesty, chapter twenty-three, "to authorize for a fur- c. 23, to ther period the advance of money out of the consolidated fund to a limited amount for carrying on public works and fisheries and employment of the poor," and any Act or Acts for amending or continuing the same, to make advances to any such board or vestry upon the security of all or any of the monies or rates to be raised by them under this Act, and without requiring any further or other security than a mortgage of such monies or rates.

CLXXXV. Every mortgage authorized to be made Form of under this Act shall be by deed duly stamped, truly mortgage. stating the date, consideration, and the time of payment, and shall be sealed (g) with the seal of the board or vestry, and may be made according to the form (E.) contained in the schedule to this Act annexed, or to the like effect, or with such variations or additions in each case as the board or vestry and the party advancing the money intended to be thereby secured may agree to; Register of and there shall be kept at the office of the board or vestry a register of the mortgages made by them, and within fourteen days after the date of any mortgage an entry shall be made in the register of the number and date thereof, and of the names and descriptions of the parties thereto, as stated in the deed; and every such register shall be open to public inspection during office

(f) See sect. 20 of 25 & 26 Vict. c. 102, post, empowering public loan commissioners to lend to metropolitan boards, vestries, &c., and as to repayment by instalments.

(g) The common seal affixed pursuant to order or resolution is declared to be binding, and conclusive on the board or vestry; s. 19 of 25 & 26 Vict. c. 102, post.

mortgages.

Repayment

of money

a time

agreed upon.

hours at the said office, without fee or reward; and any clerk or other person having the custody of the same, refusing to allow such inspection, shall be liable to a penalty not exceeding 51.

CLXXXVI. The board or vestry making any such borrowed at mortgage may, if they think proper, fix a time or times for the repayment of all or any principal monies borrowed under this Act, and the payment of the interest thereof respectively, and may provide for the repayment of such monies, with interest, by instalments or otherwise, as they may think fit; and in case the board or vestry fix the time or times of repayment they shall cause such time or times to be inserted in the mortgage deed; and at the time or times so fixed for payment thereof such principal monies and interest respectively shall, on demand, be paid to the party entitled to receive Interest on the same accordingly; and if no other place of payment mortgages be inserted in the mortgage deed, the principal and into be paid half-yearly. terest shall be payable at the principal office of the board or vestry, and, unless otherwise provided by any mortgage, the interest of the money borrowed thereupon shall be paid half-yearly; and if no time be fixed in the mortgage deed for the repayment of the money so borrowed, the party entitled to receive such money may, at the expiration or at any time after the expiration of twelve months from the date of such deed, demand payment of the principal money thereby secured, with all arrears of interest, upon giving six months previous notice for that purpose; and in the like case the board or vestry may at any time pay off the money borrowed, on giving the like notice; and every such notice shall be in writing or print, or both, and if given by a mortgagee shall be given in manner herein provided for service of notices (h) on the board or vestry, and if given by the board or vestry shall be given either personally to such mort

As to repayment of

money borrowed when

no time has

been agreed

upon.

(h) The mode of serving notices on boards and vestries is provided for by sect. 220.

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cease on ex

piration of

gagee or left at his residence, or if such mortgagee or his residence be unknown to them, or cannot be found after diligent inquiry, such notice shall be given by advertisement in the London Gazette; and if the board Interest to or vestry have given notice of their intention to pay off any such mortgage at a time when the same may law- notice to fully be paid off by them, then at the expiration of such mortgage notice all further interest shall cease to be payable thereon, unless, on demand of payment made pursuant to such notice, or at any time thereafter, the board or vestry fail to pay the principal and interest due at the expiration of such notice on such mortgage.

pay off a

debt.

borrow to

existing

securities.

CLXXXVII. It shall be lawful for the said metro- Power to politan board, with respect to any security granted by pay off the metropolitan commissioners of sewers, or granted by such board under this Act, and for every district board and vestry, with respect to any security for any existing debt or liability which such board or vestry are by this Act required to discharge, and any security granted by such board or vestry under this Act, to raise and borrow the monies necessary for paying off such security, and to pay off the same; and the monies borrowed for the purpose of such payment shall be secured and repaid in like manner as if borrowed for defraying the expenses of the execution of this Act: Provided always, that nothing herein contained shall extend to authorize the paying off of any security otherwise than in accordance with the provisions thereof.

and interest

CLXXXVIII. If at the expiration of six months from Payment of the time when any principal money or interest has be- principal come due upon any mortgage made under this Act, may be enor under the said Act of the eleventh and twelfth appointment years of Her Majesty, chapter one hundred and twelve, of a re

(i) This does not empower the receiver to make, but only to collect and receive rates already made, and in case the board or vestry should refuse to make the rate it would still

forced by the

ceiver (i).

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