68-2039. Trust funds; how held and applied.
68-2039
68-2039. Trust funds; how held and applied.All moneys received pursuant to the authority of this act, whether asproceeds from the sale of bonds or as revenues or otherwise, shall bedeemed to be trust funds to be held and applied solely as provided in thisact. Any officer with whom, or any bank or trust company with which, suchmoneys shall be deposited shall act as trustee of such moneys and shallhold and apply the same for the purposes hereof, subject to suchregulations as this act and the resolution authorizing the bonds of anyissue or the trust agreement securing such bonds may provide.
History: L. 1957, ch. 368, § 10; April 26.