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Public Works Loan Commissioners, with Consent of Treasury, to advance Monies to pay off Mr. Mullins’ Debt, and for Improvements and Construction of a Graving Dock in the Harbour of Galway.
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15. It shall be lawful for the Public Works Loan Commissioners, with the Sanction of the Commissioners of Her Majesty’s Treasury, at any Time after the Execution of the said Deed or Instrument, to advance to the Galway Harbour Commissioners, by way of Annuity or Annuities, or otherwise in accordance with the Provisions of “The Harbours and Passing Tolls, &c. Act, 1861,” any Sum or Sums of Money not exceeding Twenty-two thousand Pounds, out of the Monies placed at their Disposal under the 29 & 30 Vict. Cap. 72. Sec. 2. to be applied by the said Galway Harbour Commissioners in the Manner and to the following Purposes; viz.,
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First, the Sum of Five thousand Pounds to be paid to the said Michael Bernard Mullins, or his legal Representative, in full Discharge of the said Debt of Six thousand four hundred Pounds or thereabouts:
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And the said Sum or Sums so from Time to Time, or the Annuity or Annuities, granted for the same by the Galway Harbour Commissioners to the Public Works Loan Commissioners, shall have Priority over the said Annuity for the said Sum of Ten thousand Pounds, provided the Commissioners of Her Majesty’s Treasury sanction any such Loan.
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