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Part IVFinance

30Application of revenue for purposes of Act

The Authorities may apply money received by them on account of the revenue of the undertaking including money held in any reserve fund—

(a)for the purposes of this Act; and

(b)in the repayment of monies borrowed by them for the purposes of this Act; and

(c)in the payment of interest on such monies.

31Application of money for certain purposes

(1)If the Authorities consider it will be conducive to or will facilitate—

(a)the efficient operation and management of the bridge or the ferry; or

(b)improved management or control of traffic using the bridge or the ferry; or

(c)relief or prevention of congestion of traffic on or in the vicinity of the bridge or the ferry; or

(d)passage on the bridge or the ferry of traffic of any class; or

(e)preservation or improvement of the amenity of the area in which the bridge or the ferry is situated so far as it is related to or affected by traffic using the bridge or the ferry;

the Authorities may apply money received by them on account of the revenue of the undertaking and, notwithstanding section 60(4) of the Act of 1957, surplus revenue of the undertaking for the following purposes:—

(i)to reimburse, in part or whole, revenue or capital monies expended by the relevant councils pursuant to section 63 of the [1985 c. 67.] Transport Act 1985 in securing the provision of public passenger transport services within the district or the city; or

(ii)to reimburse, in whole or part, revenue or capital monies expended by the relevant councils under any enactment in connection with the provision of highways and transportation infrastructure works, vehicles and rolling stock, traffic systems or other improvements of highways and transportation services within the district or the city.

(2)The Authorities shall not apply money under this section for the purposes referred to in subsection (1) above without a resolution approving the proposed application of money first being passed by each of the Authorities.

(3)For the purposes of this section “the relevant councils” means the county council, Devon County Council, the city council and Caradon District Council, or any of them.