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Application of the Proceeds of Sale of Sites, Water Powers, &c.
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III. The Proceeds of the Sale of all such Sites, Water Powers, and Premises as shall be so sold after the making of any such Final Award as aforesaid shall by the said Commissioners be paid over to the Commissioners of Her Majesty’s Treasury, to be applied by them to any or either of the Purposes after mentioned; that is to say, in reimbursing to the said Commissioners of Her Majesty’s Treasury the Monies expended on the District in connexion with which such Sites shall have been acquired, in Cases where the Amount chargeable on such District shall have been reduced, pursuant to the Provisions of the Acts of the Sixteenth and Seventeenth of Her Majesty, Chapter One hundred and thirty, or Eighteenth and Nineteenth of Her Majesty, Chapter One hundred and ten; or in discharging an equivalent Amount of the Principal Monies chargeable on such District by virtue of any Final Award, in Cases where no such Reduction shall have been made; and in Cases where such Portion of the Monies so chargeable shall be so discharged as last aforesaid, the said Commissioners of Public Works shall make such rateable Reduction of the Portions of such Amount charged by such Award, or such Alteration with respect to the Duration or Amount of the Instalments payable under the same, as the said Commissioners of the Treasury shall think fit; and the said Commissioners of Public Works shall thereupon make a Supplemental Award in the Manner set forth in the said Act of the Sixteenth and Seventeenth of Her Majesty, Chapter One hundred and thirty, and to which Supplemental Award all the Provisions and Enactments of the said lastly-mentioned Act shall be taken to apply: Provided always, that in case any Proprietor shall, under the Provisions of the said Acts, have paid off the whole of the Principal Monies charged upon his or her Lands by any such Award, he or she shall be entitled to the Benefit of any Reduction so directed as aforesaid, and to be reimbursed accordingly.
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