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suant to a law of the state of New-York, entitled An act for emitting the sum of two hundred thousand pounds in bills of credit for the purposes therein mentioned, granted, bara gained, sold, released, enfeoffed and confirmed, and by these presents do grant, bargain, sell, release, enfeoff and confirm unto the said heirs and assigns, all that together with all and all manner of improvements, hereditaments and appurtenances whatsoever to the same belonging, or in any wise appertaining, and alll the estate, right; title, interest, claim and demand whatsoever of the loan-officers of the of and their successors, to the above bargained premises, and every part thereof; to have and to hold the above bargained premises, and every part thereof, with the appurtenances, to the said heirs and assigns, to the sole and only proper use, benefit and behoof of the said heirs and assigns for ever. In witness whereof, the loan-officers of the have hereunto set the seal of their corporation, together with their hands, the day and year above written.
Sealed and delivered in the presence of To which deed the loan-officers shall affix the seal of the loan-office, and respectively subscribe their names in the presence of two witnesses.
XLV. And be it further enacted by the authority aforesaid, Form of theit That upon every sale of lands, the loan-officers shall fill up one of the loose sheets of blank mortgages, like to the original mortgage, and attest the same as a true copy, under their hands and the seal of the loan-office, and give it instead of the original mortgage for evidence of the title to the purchaser ; and the bond to be entered into by the loan-officers shall be in the form following, viz. . V NOW all men by these presents, That we are
1 held and firmly bound unto the people of the state of New York, in the sum of to be paid to the said people ; for which payment well and truly to be made and done, we bind ourselves, our heirs, executors and administrators, and every of an and them, jointly and severally, firmly by these presents. Sealed with our seals, and dated the day of in the year of our Lord one thousand seven hundred and .
THE condition of the above obligation is such, That if the above bounden shall and do well and truly perform the office and duty of one of the loan-officers of the
of and shall demean himself therein without favour, malice or partiality, then the above obligation to be void, otherwise to remain in full forca and virtue.
Sealed and delivered in the presence of XLVI. And be it further enacted by the quthority afore- Pro said, That in case of the forfeiture of such bond as afore- in fuits on
their bondo said, the suit thereon shall be staid, on the defendant's pay. tu pomene ing or tendering in court to pay the damages arisen by VOL. II.
the breach of the condition of the said bond, with the costs to that time ; and if judgment be had thereon, a jury shall
inquire of the damages according to law. Power of the LIX. And be it further enacted by the authority aforesaid, common council of
That all the power and authority by this act given to, and New York on duties required to be done by the judges and supervisors this subject.
of the several counties of this state, shall be vested in, and exercised by the mayor, aldermen and commonalty of the city of New-York in common council convened, who shall be subject to like forfeitures, so far forth as the matters and things in this act contained relate to the said city and county of New-York, and that the word county, in this act mentioned, shall be construed to comprehend the said city and county of New-York.
An ACT supplementary to an Act, entitled “ An Act for 'emitting the Sum of Two Hundred Thousands Pounds in Bills of Credit for the Purposes therein mentioned."
Passed 5th May, 1786. Sess. 9, ch. 64.
on paying the
ELEVENTH SESSION. Chap. XXX. An ACT to take out of Circulation the Bills of Credit emitted by Law, and to emit others as a Substitute.
Passed 8th February, 1788. Mortgagors XIII. 'A ND be it further enacted by the authority aforewhole money
1 said, That if at any time before a sale by the and expense loan-officers, the respective mortgagors, their heirs or astheir eftate in signs, shall pay to the loan-officers the whole of the mothe premises.
nies, by reason of the neglect to bring in and pay which such sale shall have been advertised, together with the expenses of advertising, the loan-officers shall not proceed to a sale ; and the several mortgagors and their respective heirs and assigns shall on such payment be, with respect to the equity of redemption, and their estate and right of,
in and to the mortgaged premises, restored to and be in • the same condition as if there had not been a neglect to
bring in and pay the said monies ; any thing in the herein recited act to the contrary notwithstanding
TWELFTH SESSION. Chap. XXIX.
tain Bills of Credit and Certificates therein mentioned, and
Passed 20th February, 1789. Money bor. IV. A ND be it further enacted by the authority a fore. rowed from "A
said, That in case the whole or any part of the idh
office at any time repaid
principal borrowed by any person from any loan-office in any loan. this state, shall at any time be paid or come into any such in loan-office, no part thereof shall be re-loaned, but the same not to be res shall be paid to the treasurer of this state, together with the money received in such loan-office for interest, and shall be disposed of in the same manner as the said interest.
An ACT to prolong the Time for collecting the Arrears
of Taxes heretofore made receivable in Public Securi.
[The 5th and 6th sections only related to loan-officers.]
gaged to the loan officers
FOURTEENTH SESSION. CHAP. XL. An ACT for the Direction of the Loan-Officers, and for the
Apportionment of Losses on the Monies loaned by the Peos ple of this State, in the late Counties of Albany and. Montgomery.
Passed 2 1st March, 1797. “ .. I. D E it enacted by the People of the State of New-York, Lands more
D represented in Senate and Assembly, and it is here- laged by enacted by the authority of the same, That when any lands, how fold or tenements or herditaments, mortgaged to the loan-of-“ ficers of any city or county, shall be exposed to sale by the loan-officers, according to the act, entitled An act for emitting the sum of two hundred thousand pounds in bills of. credit for the purposes thereir. mentioned, and no person shall bid or offer at such sale to give for the same lands, tenements or hereditaments the sum of money for which the same were mortgaged and then remaining unpaid, with the interest then due thereon, or if any person to whom any such lands, tenements or hereditaments shall at any such sale be struck off, shall not pay for the same, then and in eyery such case the loan-officers shall enter into and take possession of the said lands, tenements and hereditaments, and let the same upon the best terms they can for the benefit of the county, until the third Tuesday of April thep next, and shall on the same third Tuesday in April then next, sell the same lands, tenements and here.. ditaments at public vendue to the highest bidder, giving at least six weeks notice of such sale in the manner directed by the said act; and if any deficiency shall happen by such sale, the loan-officers shall give notice thereof to the sus pervisors of the county in which the lands, tenements and hereditaments are situated, at their then next meeting, who shall cause such deficiency to be raised and paid to.
the loan-officers on or before the first Tuesday in October then next, but if the mortgagor, or his heirs or assigns, shall at any time before the sale of the mortgaged premises, pay to the loan-officers all such sums as shall be payable on such mortgage on the third Tuesday of June then next, for principal and interest, together with the charges of advertising the same, then the said loan-officers shall accept the same, and permit the said owner, or his heirs or assigns, to take possession of the said mortgaged premises, and to hold the same until default shall be made in the payment of any further sum on the said mortgage.
[Refidue of this act presumed to be obsolete.]
An ACT to grant an additional Compensation to the Loan.
Officers for the Counties of Albany and Montgomery, and relating to the Loan-Officers of the said Counties.
· Passed 11th April, 1792. Sess. 15, c. 71.
An ACT relative to the Loan-Officers in the County of
· EIGHTEENTH SESSION. CHAP. LXVIII. o An ACT relative to the Funds of this State.
Passed the 9th of April, 1795. Persons in. V. A ND be it further enacted by the authority aforesaid, debted for movies loan- n That every person who after the third Tuesday of ed to have an June last was indebted to the people of this state for money option as to the payment. loaned by any of the loan-officers within this state, in con
formity to the act, entitled An act for emitting the sum of two hundred thousand pounds in bills of credit for the purpos ses therein mentioned, passed the eighteenth of April, one thousand seven hundred and eighty-six, and who have paid what was due on the principal and interest of the said loan to the said third Tuesday of June last, shall have the option to retain the whole residue of the principal so due as aforesaid, until the third Tuesday in June in the year of our Lord one thousand eight hundred and five, or to pay the same residue by instalments, in conformity to the said act; Provided always, That the interest arising on such residue shall be annually paid agreeable to the directions in the said act contained ; any thing in the said act to the contrary thereof notwithstanding.
[Refidue of this act, except the 5th fec. did not relate to this subject.]
An ACT relative to the Treasury of this State,
(The last seg. only of this act related to the subject. )
of credit not to be cancel
: TWENTY-SECOND SESSION. CHAP. XCIV.. An ACT for the Payment of certain Officers of Government,
and other contingent Expenses.
... Passed 3d April, 1799.' XXII. A ND be it further enacted, That hereafter the Certain bills
A bills of credit emitted the eighth day of Feb- of i ruary one thousand seven hundred and eighty-eight, as led. directed by the forty-ninth section of the act passed the 18th day of April, 1786, shall not be cancelled ; but the same shall be and hereby are made subject to the direction of the legislature, for the purpose of satisfying the demands on the treasury of this state, any thing in the said section to the contrary notwithstanding; and the faith of the state is hereby pledged that due provision be made for the redemption of the same.
FIFTEENTH SESSION. CHAP. XXV.
Passed 14th March, 1792.
Al That before the said loan-officers shall respec- titve lecym tively enter' upon their said office, every of them shall
give bond to the people of the state of New York, with - such sufficient security as shall be approved of by one or more of the judges of the court of common pleas of the county, together with a majority of the supervisors of the same county, signified by signing such his and their approbation on the back of the said bond, which bond shall be in the full sum by this act committed to his charge, with condition for the true and faithful performance of his of fice and duty, 'and that without favour, malice or partiality.
III. And be it further enacted by the authority a foresaid, Their oath. That each loan-officer respectively shall take the following oath, viz. T do swear, that I will according to the best of my I skill and knowledge, faithfully, impartially and truly demean myself in discharge of the trust committed to me as one of the loan-officers of the county of by the act, entitled An act for loaning monies belonging to this state, according to the purport, true intent and meaning of the said act, so as the public may not be prejudiced by my consent, privity or procurement.