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AN ORDINANCE FOR RAISING AND LENDING TO THE MAYOR ( Ord. 2 anno AND TOWN COUNCIL OF GEORGETOWN A SUM OF ONE
1865.] HUNDRED THOUSAND DOLLARS, TO BE BY THEM EXPENDED IN CERTAIN PUBLIC IMPROVEMENTS IN THE BURNT DISTRICTS OF THE CITY.
Enacted 31st January, 1865, published the 4th February
following, came into operation on publication.
[FRANCIS HINCKS, Governor.) WHEREAS the Mayor aud Town Council of Georgetown having Preamblo. by Petition addressed to His Excellency the Governor, expressed their desire of obtaining a Loan of One Hundred Thousand Dollars for the purpose of effecting the improvements in the Burnt District of South Cumingsburg West Ward authorised by Ordinance No. 17 oť 1864, and also of making up the vew Streets of Robb's Town and building a Stelling and Sluice in said Ward, the said Petition wos duly laid before and considered by the Honorable the Court of Policy of the Colony of British Guiana, combined with the Financial VOL. IV.
Representatives of the Inhabitants thereof, at a Special Meeting held on the 9th day of January ivstant, aud it was thereupon resolved by the said Combined Court as follows :
1. “That the Governor and Court of Policy be, and they are
hereby authorised to cause Bouds to be issued to an amount not exceeding One Hundred Thousand Dollars, charged upon the Colonial Revenues and redeemable with interest at six per cent. in twenty years from the date of issue.
2. “ That the amount so to be raised may be advanced on loan
by the Colonial Receiver General to the Mayor and Town Council for the purposes aforesaid, it being conditioned that the amount of such loan, with interest, shall be repaid to the Colony by the Mayor and Town Council within the said period of twenty years, and that for securing such repay. ment the Colony shall have a preierent lien upon the property, revenues, and taxation of the Corporation, subject to any existing liens thereon.
3. “That the Governor and Court of Policy be, and they are
hereby requested to pass an Ordinance to give effect to the foregoing arrangement:"
Be it therefore enacted by His Excellency the Governor of British Guiana, with the advice and consent of the Court of Policy thereof, as follows:
1. The Colonial Receiver-General, for and on behaif of the Lean not ex. Colony, shall raise hy loan in manner and form following, and on ceeding $100,000 aa. the security hereinafter mentioned, a sun not exceeding One thorised.
Hundred Thousand Dollars, and shall lend and advance the same, when raised, subject to the provisions of this Ordinance, to the Mayor and Town Council of Georgetown, who are hereby author. ised and empowered to borrow and receive the same ou loan, for the purpose of enabling then to eff:ct the improvements in the Burat District of South Cumingsburg West Ward authorised by