Application of finances
This section has no associated Explanatory Memorandum
7. The Council shall apply the harbour revenue in the manner following and not otherwise—
(a)first in payment of the working and establishment expenses and cost of maintenance of the harbour;
(b)secondly in payment of the interest on any moneys borrowed by the Council for the harbour under any statutory borrowing power;
(c)thirdly in payment of all other expenses properly chargeable to harbour revenue; and
(d)fourthly to an account established as a reserve fund for the harbour.