January 1786

"their Quarter Sessions as aforesaid from time to time to borrow and take up
"on mortgage of the Rates herein mentioned, by Instruments in the form Contained
"in the Schedule hereunto annexed or to that or the like Effect, any Sums not less
"than fifty Pounds nor exceeding One hundred Pounds each at legal or lower
"Interest as to them, or the major Part of them, such major part not being less
"than five shall appear necessary and expedient for the Purpose aforesaid
"and to secure all and every such Sum and Sums of money so borrowed upon
"the Credit of the Rates to be raised upon such County, Riding Division City
"Town, Liberty, and Precinct respectively; and the said Justices, so assembled
"aforesaid are hereby authorized to treat and agree with any Person or Persons
"for the Loan of any such Sum or Sums of money and by their Order to confirm
"and Establish every such agreement as aforesaid; and every such agreement
"so established by such Order, and signed by the Chairman and Two or more
"Justices present at the time of making such Order shall be and same is
"hereby declared to be effectual for securing to the Person or Persons or advancing
"any Sum or Sums of money his her or their Executors, administrators and
"assigns, all and every such Sum or Sums of money, with Interest for the same
"on such Terms as in and by such Agreement or Agreements respectively shall
"be for that purpose Stipulated; and copies or Extracts of all such Agreements
"or Securities shall be kept with the Clerk of the Peace, or other proper Officer
"having the Custody of the Records of the Quarter Sessions of such County, Riding
"Division City Town, Liberty or Precinct respectively;and all and every
"Person and Persons to whom any such Security or Securities shall be made
"or who shall be intitled to the money thereby secured, is and are hereby impowered
"(by indorsing his her or their Name or Names on the Back of such Security or
"Securities) to transfer and assign the same, and his her or their Right to the
"principal Money and Interest thereby secured unto any Person or Persons;
"and every such assignee may in like manner transfer the same again and so
"toties quoties; and the Person or Persons to whom such Security or Securities; or
"any such Assignment thereof shall be made and his her or their respective
"Executors Administrators and Assigns shall be Creditors upon the said Rates
"in an equal degree one with another, and shall not have any preference
"with respect to the Priority of any Monies so advanced ".

And the same being read accordingly.