Moray Council agreed to make the payment which is to be repaid over the next three years.
A preliminary offer for £27,000 towards the restoration costs has already been made by the Elgin Conservation Area Regeneration Scheme (CARS). The council's loan of £18,000, along with some funding from monies currently held in the Common Good Fund, will provide the balance.
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Chair of the committee, Councillor George Alexander, said the B-listed fountain, which was built in 1844, was an important landmark to restore.
"The fountain on the Plainstones has stood for almost 200 years and is a significant part of Elgin High Street’s history. This investment will ensure it’s standing for many more years to come and will continue to be an attraction to visitors."
(CD)
