|
|
Application of tolls, &c.
|
7. All tolls levied by a pier authority to whom the maintenance of any of the said piers or the improvement of the approaches thereunto has been committed in pursuance of this Act, and all moneys otherwise accruing to such authority in pursuance of this Act, shall be held by such authority on trust to dispose thereof in defraying the expenses of and attending such maintenance or improvement of the approaches thereunto, and in repayment of any loan or loans raised by such authority in pursuance of this Act, with the interest thereon; and any surplus from time to time arising shall be applied in reduction of such of the rates fixed in respect of the said tolls as such authority may from time to time think it expedient to reduce; and any surplus from time to time remaining after such reduction of rates as aforesaid shall, in the case of a pier authority being a local authority, be the property of the county or sanitary district (as the case may be), and, in any other case be disposed of in such manner as Parliament may direct.
|
