When any landowner shall be desirous of borrowing or advancing money under this Act for the improvement of his land, he shall make an application to the Commissioners to sanction the proposed improvements in such manner and form and stating such particulars as the Commissioners shall from time to time direct; and until the proposed improvements shall have been sanctioned by the Commissioners in manner hereinafter mentioned the application may be withdrawn or altered, or consolidated with any other application, at the pleasure of the applicant, but without prejudice to his liability as herein-after mentioned for the expenses incurred by the Commissioners or their officers in consequence of his application.