Article 14 Application of financesI1

England and Wales

The Council must apply the harbours revenue in the manner following and not otherwise—

(a)

first in payment of the working and establishment expenses and cost of maintenance of the harbours;

(b)

secondly in payment of the interest on any moneys borrowed by the Council for the harbours under any statutory borrowing power;

(c)

thirdly in payment of all other expenses properly chargeable to harbours revenue;

(d)

fourthly to the general reserve fund established under article 17 (general reserve fund).

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