Drainage (Ireland) Act 1845

The Commissioners may, on Notice, pay off Certificates.

XII. And be it enacted, That in all Cases of Certificates issued in the Mode herein-before prescribed, and also in all Cases where, pursuant to the Provisions of the said recited Act, the Commissioners are empowered or required to borrow Money at a lower Rate of Interest than the Certificates which for the Time being shall be in force shall bear, and shall issue like Certificates at such reduced Rate of Interest, it shall and may be lawful for the said Commissioners and they are hereby required to publish a Notice or Notices in the Dublin Gazette, and in such other Newspapers as they shall deem fit, fixing a Time, not sooner than Six Months from the Date of such Notice, when the Principal Money secured by any or the whole of such Certificates shall become payable, having regard to the Order in which, in pursuance of the Provisions of this Act and the said recited Act, such Certificates shall have been made payable; and in such Notice the Certificates to become payable shall be described by the Name of the District or Work for which they have been issued, and the Number, Letter, or other Mark fixed by said Commissioners on such Certificates; and it shall be lawful for the said Commissioners, at the Expiration of the Time in such Notice stated, to pay off the Monies due on account of such Certificates named in such Notice, and from and after the Expiration of the Time appointed by said Notice the Interest on the Principal Monies secured by such Certificates shall cease and determine.