An Act to enable Frederic King James Asien curren or ENGLAND Christian Corletie John Allumand Edward sexo: Wenry Rogers or other the Trustees for the time being of certain land situate at Ashfield to sell the same and to make provision for the procceds thereof. [1s¢ July, 1886. | V TILEREAS by an indenture dated the thirteenth day of August Preamble. one thousand eight Iundred and sixty-six and made between James Mullins and Lucian Moore of the first part Samuel Hodgson Smyth of the second part the said Samucl Ilodgson Smyth Frederic King Edward Ilume Woodhouse and the Reverend William Cecil Cave Browne Cave of the third part all therein respectively described certain land therein and in the Schedule hereto specifically mentioned were 24: Trustees empowered to sell and convey. Trusteos empowered to give credit to purchasers, Trust as to proceeds of sale, Erection of school. Invest balance. Application of interest, 50° VIC. 1886. Ashfield Church of England School. were conveyed and assured to the said parties of the third part their heirs and assigns for ever upon trust for and to permit the same to be used for the purpose of a Church of England school and to erect a school-house thereon for the purpose and keep the same school-house in repair And whereas Frederic King James Christian Corlette John Allum and Edward Ifenry Rogers are the present duly appointed 'Trustees of the said indenture And whereas the said indenture contains no power of sale or exchange over the said land and it is expedient that power should be given to the said Trustees or other the Trustees for the time being of the said indenture enabling them to sell the said land and to apply the proceeds as hereinafter directed Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled and by the authority of the same as follows :— 1. It shall be lawful for Frederic King James Christian Corlctte John Allum and Edward Henry Rogers their heirs and assigns or other the Trustees for the time being of the said indenture of the thirteenth day of August one thousand cight hundred and sixty-six (all hereinafter called the Trustees) to scll and dispose of the land described in the Schedule hereto and the buildings thereon cither by public auction or private contract and cither in onc lot or in several lots for such price and prices as may reasonably be had and obtained for the same and upon such terms and conditions of sale as the Trustees may deem it expedient with power to buy in the said land orany part or parts thereof at any auction sale or to rescind or vary the terms of any contract for the sale of the said land or any part or parts thereof and when sold to conycy the same or any part thereof to the purchaser or purchasers in fee simple freed and discharged from the trusts affecting the same and the receipt in writing of the Trustees their heirs and assigns for any money arising frem such sale or sales shall absolutely discharge the purchaser or purchasers thereof and shall free him or them respectively from seeing to the application of the said money or from any liability in respect of the same. 2. It shall be lawful for the Trustees on any such sale or sales as aforesaid to allow any purchaser or purchasers credit for the pay- ment of so much of the purchase money in any case as shall not exceed three-fourths of the whole amount payable in respect of such purchase upon such terms as to interest as may be deemed proper Provided that the land so sold on credit as aforesaid shall remain unconveyed or be otherwise rendered a security for so much of the purchase money as shall remain unpaid together with interest thereon until the same shall have been wholly satisfied. 3. The Trustees shall stand possessed of the proceeds of any sale under the power herein contained upon trust after payment of the costs and expenses of and incidental to such sale and this Act to apply such moncys in the erection of a school-house in connection with the Church of England upon a yacant portion of the site of the church known as Saint John the Baptist at Ashfield near Sydney aforesaid or on any other site within the said parish as it now is or asit may at any time hereafter be defined and invest the remainder of the said moneys (if any) which shall not be required for the purpose aforesaid on mortgage upon freehold real estate within the Colony of New South Wales or in any Government funds or debentures of any Afstralian Colony or in fixed deposit receipts of any bank carrying on business in the Colony of New South Wales with power from time to time to vary and transfer any such investment for or into any other investment authorised by this Act and to apply the interest or income arising from such investment in the first place for the repair improvement ' maintenance 1886. 50° VIC. Pr ingle? $ state Morigaging. maintenance and benefit of the said school-house and next thereafter i in aid of any fund in connection with the Church of England within the ecclestiastical boundaries of the parish of St. John the Baptist Ashfield as may be deemed advisable by the seatholders and parish- ioners assembled in the manner directed by the said indenture for the election of new Trustees and all receipts given by any person or persons to whom any moneys shall be paid under the provisions of this Act shall be valid and complete discharges to the Trustees their heirs and assigns for money so paid. 4, This Act may be cited as the " Ashficld Church of England Short title. School Act of 1886." SCHEDULE. All that piece or parcel of Iand situate lying and being in the parish of Concord in the county of Cumberland Colony of New South Wales and commencing at the intersection of Bland-street with William-street and bounded on the west by Bland-street bearing southerly to the north-west corner of lot twelve on the south by the north boundary of that lot bearing easterly two hundred an nincty-seven fect to the intersection of Charlotte- street with W illiam- strect aforesaid and lastly on the north-cast by William-strect bearing north-westerly to the point of commencement and being lot thirteen as exhibited ona plan of sale and containing an area of two roods ten perches of a subdivision of Dr. Bland's land at Ashfield.