LXVIMoney borrowed to be paid to such Persons as the Bishop shall appoint ; who shall contract for the Buildings &c. and see the same executed, and pay for them, &c. How the Balance remaining shall be disposed of.
And be it enacted, That the Money so to be raised shall be paid into the Hands of such Person or Persons as shall be nominated and appointed by the Bishop of the Diocese by Writing under his Hand to receive and apply the same for the Purposes aforesaid, in the Form for that Purpose contained in the said Schedule, after such Nominee shall have given a Bond to the Ordinary, with sufficient Surety, in double the Sum so to be borrowed or raised, with Condition for his duly applying and accounting for the same according to the Directions of this Act; and the Receipt of the Person or Persons so to be nominated shall be a sufficient Discharge to the Person or Persons who shall advance and pay the Money ; and the Person or Persons so to be nominated shall enter into Contracts with proper Persons for such Buildings or Repairs as shall be approved by the said Bishop and shall be specified in an Instrument written upon Parchment and signed by him, and shall inspect and have the Care of the Execution of such Contracts, and shall pay the Money for such Buildings and Repairs, according to the Terms of such Agreements, and also the Expences of preparing the Mortgage Deed and incident thereto, and of making such Certificate, Plan, and Estimate, and Copies thereof as aforesaid, and shall take proper Receipts and Vouchers for the same ; and as soon as such Buildings or Repairs shall be completed, and the Money paid, shall make out an Account of his Receipts and Payments, together with the Vouchers for the same, and enter them in a Book fairly written, which shall be signed by him, and laid before the Bishop of the Diocese and examined by him, and when allowed by Writing under his Hand, such Allowance shall be a full Discharge to the Person so nominated in respect to the said Accounts ; and if any Balance shall remain in the Hands of such Nominee or Nominees, the same shall be laid out in some further lasting Improvements in building upon such Glebe, or shall be paid and applied in discharge of so much of the said Principal Debt as such Balance will extend to pay, at the Discretion of the said Bishop, by Order signed by him ; and an Account shall also be kept, made out, and allowed of such further Disbursements in manner aforesaid ; all which Accounts when made out, completed, and allowed, shall be deposited with the Vouchers in the Hands of the said Registrar, and kept by him for the Use and Benefit of the Incumbents of such Benefice for the Time being, who shall have a Right to inspect the same whenever Occasion shall require, paying to such Registrar or Deputy Registrar the Sum of One Shilling for every such Inspection.