1. As often as it shall be deemed advisable it shall be lawful for the Board of Directors to borrow money from the Society's Bankers, or other persons, on such terms as the Board shall think fit to agree to; the money so borrowed to be used for the purposes of the Society; and for any sum so borrowed it shall be lawful for the Board of Directors to pay interest out of the funds of the Society, at any rate not exceeding £ 10 per centum per annum.