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be secured by new securities shall not in any case exceed the principal money required to be repaid.

may guarantee pay

monies bor

VI. It shall be lawful for the commissioners of Her The treasury Majesty's treasury to guarantee the payment of the principal and interest of any money borrowed under this ment of Act, and all bonds, debentures, and securities issued rowed. under this Act, the payment of the principal and interest secured whereby is intended to be so guaranteed, shall be signed by such officer as the commissioners of Her Majesty's treasury may in this behalf from time to time appoint.

transferable

VII. All bonds, debentures, and securities issued under Securities the authority of this Act, and all right to and in respect by delivery. of the principal monies secured thereby, and all interest due and accruing thereon, shall be transferable by the delivery of such bonds, debentures, and securities respectively.

rowed under

to works

Act.

VIII. The metropolitan board of works shall cause a Money borseparate account to be kept, of the money borrowed by this Act to be such board under this Act, and all such money, except applied only money borrowed for repayments as hereinbefore pro- under this vided, shall be employed in payment of the expenses of and incidental to the works to be executed under this Act, and to no other purpose; and the auditor appointed by the secretary of state shall, upon his audit of the accounts of the said board in every year, cause a separate abstract and statement to be prepared of the receipt and expenditure of the said board under this Act, which shall be laid before parliament as directed concerning his other abstracts and statements (k).

IX. It shall be lawful for the commissioners of Her Appointment of inspecting Majesty's treasury from time to time to appoint an en- engineers. gineer or engineers to inspect the works to be con

(k) See as to audit, 18 & 19 Vict. c. 120, ss. 195, 196, ante, p. 154, et seq.

Metropolitan board of

a rate of

polis.

structed under this Act, and to report to such commissioners in relation to the expenditure thereon; and such engineer or engineers shall have full power and authority at all reasonable times to enter upon such works, and survey and inspect the same, and to inspect the accounts of the said metropolitan board in relation thereto, for the purpose of reporting as aforesaid.

X. The metropolitan board of works shall during forty works to levy years from the time of the passing of this Act assess and cause to be raised in each year, upon the city of threepence in the pound on London and the other parts of the metropolis, for the the property in the metro- purposes of this Act, such sums as, in their judgment, will be equivalent to a rate of threepence in the pound upon the annual value of the property in the said city and other parts respectively, estimated according to the estimate or basis on which the county rate is assessed, or according to a like estimate; and the sums to be so assessed in each year may be assessed at one time or at several times, as the said board may think fit.

Such rate to be called

"the metropolis main drainage rate."

XI. In the assessments of the said metropolitan board under this Act, and in their precepts, and in the orders of vestries and district boards to be made in respect of such assessments, such sums shall be distinguished as being assessed for "the metropolis main drainage rate," and all such sums assessed upon the city of London shall be reimbursed to the chamberlain of the said city by means of a separate rate to be called "the metropolis main drainage rate," to be levied under the direction of the commissioners of sewers of the said city, in like manner and subject to the like provisions as any rate which such commissioners are authorized to direct to be made under any Act relating to the sewerage of the said city (a), and all such sums assessed on other parts of the metropolis shall be levied by means of a separate rate to be called "the metropolis main drainage rate," in like

(a) These rates are raised under the City of London Sewers Act, 1848, 11 & 12 Vict. c. 163, s. 168, et seq.

manner and subject to the like provisions as the sewers rate to be made under the said Act of the eighteenth and nineteenth years of Her Majesty (b); and the assessments of the said metropolitan board under this Act shall include the places mentioned in schedule (C.) to the said Act of the eighteenth and nineteenth years of Her Majesty, and the sums to be assessed thereon shall be raised by means of rates (c) to be made and levied as therein provided in respect of the raising of monies assessed by the said board.

the metro

XII. For the purposes of the assessments under this All parts of Act, all the parts of the metropolis shall be deemed to be polis to be equally benefited by the expenditure under this Act (d). equally

deemed to be

benefited.

XIII. The assessments to be made by the metropolitan Assessments and precepts board of works, and the precepts for obtaining payment may be acof any monies assessed thereby, may be according to the cording to forms contained in the schedule to this Act or to the like schedule. effect.

form in

applicable to

XIV. All the provisions of the said Act concerning Provisions the estimate on which assessments by the said metropo- other assesslitan board shall be made, and for and in relation to the ments of the metropolitan assessing, raising, and enforcing payment of the sums board to be assessed by the said board, shall, subject to the provisions of this Act, extend and apply to and in the case of all sums to be assessed by the said board under this Act;

(b) See 18 & 19 Vict. c. 120, ss. 170, 171, & 174, and s. 161, et seq.

(c) See now s. 12 of 25 and 26 Vict. c. 102, post, directing these sums to be raised by precept.

(d) The 170th sect. of 18 & 19 Vict. c. 120, ante, requires that the board should have regard in works of drainage to the "benefit derived from such expenditure by the several parts of the metropolis affected thereby." The principle introduced by this enactment has, by the 5th section of the 25 & 26 Vict. c. 102, post, been extended to the general assessments of the board, which are henceforward to be made on the rateable value of the property only.

(e) See note (b), supra,

extended to assessments

under this Act (e).

Rates to be made by

board on

default of

in payment of

provided that the metropolis main drainage rate, and the sums assessed or raised for or in respect thereof, shall not be subject to any mortgage or security made or to be made by the metropolitan board of works, other than securities under this Act; but, save as aforesaid, the powers of borrowing and of assessing and rating vested in the said board before the passing of this Act shall not be prejudiced or affected by this Act.

XV. The said metropolitan board may, in case of any metropolitan default or neglect of any vestry, district board, or other body or person to pay the amount required by any prevestrics, &c. cept of the said board, or any part of such amount, precepts (). within such time and in such manner as may be mentioned in such precept in that behalf, raise and levy the money required by the said board for the purposes of this Act in any parish, district, or part, and for that purpose may make and levy a rate of such amount in the pound on the annual value of the property rateable as will, in their judgment, having regard to all circumstances, be sufficient to raise the money so required as aforesaid; and such rate shall be levied on the persons and in respect of the property by law rateable to the relief of the poor in such parish, district, or part, subject to the provisions in the said Act of the eighteenth and nineteenth years of Her Majesty contained concerning the levying of monies by overseers in pursuance of orders made upon them by vestries under the said Act, and shall be assessed upon the net annual value of such property ascertained by the rate for the time being for the relief of the poor; and the said board may appoint one or more collectors for levying any such rate, and pay him or them any salary, poundage, or allowance in

(f) This provision applies to a default of any vestry, &c., to pay a precept for the metropolis main drainage rate only, the proceedings for default in payment of the ordinary precepts being still required to be taken under the 168th section of the 18 & 19 Vict. c. 120, by which the rate must be made by the persons appointed, and not by the board itself,

respect of their employment under this enactment which such board may deem just and reasonable, and shall take such security from every such collector for the due execution of his duty as they shall think reasonable and proper; and the said board, and the collector or collectors to be appointed by them, shall have the same powers, remedies, and privileges as for levying money for the relief of the poor; and all such rates shall be allowed in the same manner, and be subject to the same provisions in relation to appeal and to excusing persons from payment on account of poverty and otherwise, as the rate for the relief of the poor; and all the expenses of and incidental to the preparing, making, collecting, and levying any such rate shall be raised and levied by the said metropolitan board in addition to but as part of the said rate; and after deduction by the said board of the expenses, all monies levied or received under or in respect of the said rate shall be paid by the said board into the Bank of England to the same account and for the same purposes as hereinafter mentioned concerning monies payable under the precepts of the said board in respect of the metropolis main drainage rate; provided also, that the provisions of sections one hundred and sixty-three, one hundred and sixty-four, and one hundred and sixty-nine of the said Act of the eighteenth and nineteenth years of Her present Majesty shall be applicable to every rate under this Act.

rates to other

XVI. The provisions of section one hundred and Extension of seventy-one of the said Act of the eighteenth and nine- provisions as to inspection, teenth years of Her Majesty, for enabling the clerk or &c. of county other person or persons authorized by the metropolitan rates and board of works to inspect or take copies of or extracts taxes (g). from county rates, bases, returns, thd other documents, and the penalties by the said enactment prescribed in the

(g) See now 25 & 26 Vict. c. 102, s. 15, post, enabling metropolitan boards and vostries and district boards to demand copies of poor and other rates.

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