It was ordered (with the concurrence of the Mayor and Treasurers as Trustees of the...

It was ordered (with the concurrence of the Mayor and Treasurers as Trustees of the charity)

1. That the money from the rent of the mines be taken up at interest, whenever it amounted to £100 or more, by the Corporation to repay the principal when due to Mr. John Lawton and Mr. Thomas Brock.

2. That the Town Clerk, or his deputy, who is appointed Receiver of part of the Corporation's estate shall pay the interest due on such money.

3. Upon payment of every sum in part of principal the interest shall be payable by the Corporation in rotation for the use of the companies with the annual rents of the lands on every 5th July by the Town Clerk or his deputy out of his receipts of the Corporation estate.

4. After payment of the principal and interest to John Lawton and Thomas Brock, then each security shall be assigned at the Corporation's costs (ZA/B/4/197v) to the Mayor and Sheriffs upon trust for the use of the companies and that such interest shall be payable every 5th July pursuant to the trusts of the will and tenor of the lease.

5. After payment of the principal from the farm of the mines, the future money from the same often as it amounts to £100 or more shall be placed at interest (corresponding with the rents and other interest) at the procuration of the Town Clerk with the approval of the Recorder. After the principal sum of £1,600 and upwards shall be so placed upon land or other security, it is ordered that, for the benefit of the charity and so that the companies may have knowledge of the annual income therefrom and receive the same, the principal shall be called in (at six month's notice) and the same shall be taken by the Corporation at 4% interest due every 5th July (ZA/B/4/198) and be paid (at six month's notice) in discharge of the mortgage to Thomas Slaughter and Henry Hesketh, Esqs. in trust for the Blue Coat School and the Mayor and Sheriffs shall give security for the principal sum at 4% interest to the use of the companies.

6. The money from the farm of the mines (unless otherwise directed by the Trustees) shall be received by Alderman Richard Richardson who shall keep accounts and pay interest of 2% and pay over the principal one month after demand to the Town Clerk with the interest due to him when it shall amount to £100 to be applied to the use of the Companies.

7. The Town Clerk or his deputy shall keep account of the moneys payable to the companies in rotation and balance the same to every July 5th and produce the same for the Alderman and Stewards of the benefited company each year also to any others on application and to enter in another book in the Town Office a fair copy of Alderman Richardson's accounts of the ore and the farm, also another account of all principal placed at interest on security as aforesaid in pursuance of this order.

8. The Town Clerk as agent of the Trustees was to be allowed every July 5th in addition to the usual salary for receiving and paying the yearly rent of the lands, one shilling in the pound for receiving and keeping an account of interest and £2. 10s. out of every £100 for the farm of the said mines and other duties as above.