The report confirms that, if that projection proves to be correct at the end of the flood grant process next year, then this underspend will be returned the general reserves.
This building reserve money is transferred from general reserves which are built up yearly from surpluses, extra interest and dividends and are lodged into a dedicated building reserve fund.
The bonds, which will be subject to early redemption, are secured by the port's revenues, in addition to cash reserves from its general reserve fund and consolidated bond reserve fund.
