|
|
Insurance of premises charged with loan.
|
4. When any loan shall be made under this Act, the said Commissioners of Public Works, if they think fit, may insure against damage by fire all buildings and erections then or there after standing or being on the lands and premises charged with such loan, such insurance to be effected in such insurance office or company, and in such sum of money, not exceeding the amount of such loan, as the said Commissioners shall from time to time direct; and the said Commissioners shall keep on foot such insurance as aforesaid, and all premiums paid thereon by the said Commissioners shall be deemed to be included in all charges and securities whereby repayment of such loan shall be secured, and shall be forthwith recoverable in like manner as any instalment of the rentcharge payable in respect of such loan.
|
