Treasurer empowered to fell fuch Bonds by public Auc

tion.

Monies arifing from Sale how to be applied.

ment.

furer or Treasurers, or Clerk or Clerks for the Time being, any Bond or Bonds under the Hands of them the faid Commiffioners or Trustees or other Perfons as aforefaid, or any Five or more of them, for the Sum of One hundred Pounds on each Bond, with Interelt for the fame after the Rate of Five Pounds per Centum per Annum, upon the Credit of the faid Rates or Affeffments; and that it fhall and may be lawful from Time to Time to and for fuch Treasu rer or Treasurers, or Clerk or Clerks for the Time being, by and with the Direction of the faid Commiffioners or Trustees or other Perfons as aforesaid, from Time to Time to make Sale and difpose at public Auction of all and every or any fuch Bond or Bonds fo to be granted as aforefaid, unto any Perfon or Perfons, for the best Price or Prices in Money that can be reasonably had or obtained for the fame; and that all Monies which fhall be from Time to Time received by any fuch Treasurer or Clerk for the Time being from fuch Sale or Sales as aforesaid (after deducting thereout all Costs, Charges, and Expences attendant thereon), fhall be applied by the faid Commiffioners or Trustees or other Perfons as aforefaid to and for the Purposes aforefaid and of this Act, pursuant to the Provisions in that Behalf herein contained.

Affignments XCIX. And be it further enacted, That all and transferrable every Perfon and Perfons, Body or Bodies Politic, by Endorfe- Corporate, or Collegiate, Aggregate or Sole, to whom fuch Affignment or Affignments fhall be made as aforefaid, or who fhall be entitled to the Money thereby fecured, may from Time to Time perfonally, or by Attorney thereunto lawfully authorized, affign or transfer his, her, or their Right,' Title, Intereft, or Benefit to the said Principal and Interest Money thereby fecured, to any Person or Perfons, Body or Bodies Politic, Corporate, or Collegiate, Aggregate or Sole, whatioever, by endorfing on the Back of fuch Security, before One credible Witness, who fhall fubfcribe his Name thereto,

thereto, the following Words, or Words to the like Effect; (videlicet),

Endorsement.

I Do transfer this Affignment, with all my Right Form of
and Title to the Principal Money thereby
fecured, and to all the Intereft Money now due
or hereafter to be due, unto C. D. his, her, or
their Executors, Administrators, Succeffors, and
Affigns. Dated this

• Witness, E. F'

Day of

'A. B.

Which Transfer fhall within Fourteen Days from the Date thereof be produced and notified to the Clerk or Clerks to the faid Commiffioners or Truftees or other Perfons as aforefaid for the Time being, who fhall enter the fame in a Book or Books to be kept for that Purpose; and after fuch Entry made, but not till then, every fuch Affignment ihall entitle any fuch Affignee or Affignees, his, her, or their Executors, Adminiftrators, Succeffors, and Affigns, to the Benefit thereof and Payment thereon; and fuch Affignee or Affignées may affign the fame again, and so toties quoties; and that such Clerk or Clerks fhall be entitled to receive the Sum of Ten Shillings and no more for the Entry of every fuch Affignment of every fuch Bond or Security; and it shall not be in the Power of any fuch Perfon or Persons who fhall have made any fuch Affignment to make void, release, or discharge the fame, or any Monies thereby due, or any Part thereof: Provided nevertheless, that the faid Commiffioners or Trustees or other Persons as aforefaid may at all Times pay off and discharge all fuch Bonds or Affignments or any Part or Parts thereof, and alfo any Monies due on Securities given and granted under and by virtue of any particular local A& or Acts of Parliament relating to the Pavement of their refpective parochial or other Districts, either -exclufively or jointly with respect to any other Ob.. -jects or Purposes, when and as they fhall think

L3

proper,

Intereft on

Monies borrowed to be paid Halfyearly.

proper, upon giving Notice to fuch Perfon or Perfons entitled to the fame, or his or their Affignee or Affignees, and upon giving Two Calendar Months public Notice thereof in The London Gazette, and One more public Newspaper; and at the Expiration of the faid Two Calendar Months after fuch Notice all Intereft fhall ceafe to be paid on the faid Principal Monies to be fecured by fuch Bonds or Affignments under this Act, or by any Securities granted under and by virtue of any fuch local A& or Acts of Parliament.

C. And be it further enacted, That the Intereft of the Money which fhall be borrowed on fuch Bonds or Mortgages or Affignments as aforesaid, from the Time the faid Money fhall be advanced, fhall be paid Half-yearly by the respective Treasurer or Treasurers, or other Perfon or Perfons deputed for that Purpose by the faid Commiffioners or Trustees or other Perfons borrowing the fame Monies, or by their Succeffors for the Time being.

CI. And whereas many Perfons may prefer to Money may be borrowed advance fuch Money as may be neceffary for the on Annuities. Purposes aforefaid for the Purchase of Annuities, to be secured upon and payable out of the faid Rates and Affeffments; be it therefore further enacted, That it fhall and may be lawful from Time to Time and at all Times hereafter to and for any Perfon or Perfons to contribute, advance, and pay into the Hands of the faid Commiffioners or Trustees or other Perfons as aforefaid, or to their respective Treasurer or Treasurers for the Time being, or to fuch Perfon or Perfons as they may appoint, any Sum or Sums of Money for the Purposes aforefaid, or of this Act, for the abfolute Purchase of One or more Annuity or Annuities, to be paid and payable during the full Term of the natural Life of fuch Perfon or Perfons, being of the Age of Thirty-five Years and upwards, as fhall be nominated by or on the Behalf of fuch refpective Contributors or Pur

chafers

chafers at the Time of the Payment of their refpective Purchase Monies; all which Annuities fo to be purchafed fhall be payable and paid by the said respective Treasurer or Treasurers, or other Perfon or Perfons deputed for that Purpose by the faid Commiffioners of Trustees or other Perfons as aforefaid for the Time being, out of the Monies to arife by or from the faid Rates and Affeffments by Half-yearly Payments, the first Payment to be made to the refpective Contributors or Purchasers, or their Affigns, at the Expiration of Six Calendar Months after the Payment of their respective Purchase Monies, the Rate whereof fhall be fettled and adjusted by a public Sale of the said Annuities, by the faid Commiffioners or Trustees or other Perfons as aforefaid, to the best Bidder for the fame, or thall be fuch as the said Commiffioners or Trustees or other Perfons as aforefaid shall think reasonable, and at any General Meeting fhall approve.

the Rates.

CII. And be it further enacted, That all and Annuities every the Annuity or Annuities fo to be purchafed chargeable on under or by virtue of this Act fhall be and are hereby charged upon and fhall be paid and payable from Time to Time out of the Monies arifing by the faid Rates and Affeffments to be made as aforefaid, and all and every the Contributors or Purchafers duly paying the Confideration or Purchase Money at the Rate aforefaid for any fuch Annuity or Annuities as aforefaid, or his, her, or their refpective Executors, Adminiftrators or Affigns, shall have, receive, and enjoy the respective Annuity or Annuities fo to be purchased out of the faid Rates or Affeffments by this Act appointed for Payment thereof as aforefaid, during the natural Life or Lives of the Perfón or Perfons to be nominated by each of fuch Purchafers as before mentioned; and that all and every fuch Purchaser and Purchafers, and their Executors, Administrators, or Affigns, fhall have good, fure, abfolute and indefeasible Eftates and Interefts in the Annuity or Annuities fo by him, her, or them L 4 respect.

Form of
Security.

Form of

Grant of
Annuity.

respectively to be purchased, according to the Tenor and true Meaning of this A&t.

CIII. And be it further enacted, That all and every the Annuity and Annuities to be purchased and fecured under and by virtue of this A&t fhall be fo granted by a Writing on Parchment, and fhall be figned by Five of the faid Commiffioners or Trustees or other Perfons as aforefaid, and shall be in the Words or to the Effect following; (that is to fay),

WE, whofe Names are hereunto fubfcribed,

being Five of the [here infert the Name or Title by which the Perfons having the Control of the Pavements are correctly defignated] in confideration of the Sum of

"of lawful Money of Great Britain, to us in hand paid by A.B. do hereby grant unto the said A. B. an Annuity or yearly Sum of

6

6

to be paid out of the Rates or Affeffments to be • raised, levied, and collected in the faid [parochial or other District, as the Cafe may be] made and • to be made for or towards the paving or repairing the Pavements of the Streets or public Places within fuch [parochial or other District, as the Cafe may be either exclufively or jointly with or for or towards any other Objects or Purposes [as the Cafe may be]; and which Annuity or yearly Sum of shall be

6

σ

paid to the faid A. B. or his or her Affigns, during the Term of his or her natural Life [or, as the Cafe may be] to the faid A.B. his Executors, • Administrators, and Affigns, upon the

Day of

• Day of

and the

in every Year, by equal half-yearly Payments, and up to the Day of the • Death of the faid A. B. [or, as the Cafe may be]: • In Witness whereof, we the said [Commiffioners or Trustees or other Perfons, as the Cafe may

be] have hereunto fet our Hands the

'Day