Find Legal Information

175.540 Trust funds.

Download pdf

175.540 Trust funds. All moneys received pursuant to the provisions of this chapter, whether as proceeds from <br>the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied <br>solely as provided in this chapter. The proceedings or the trust indenture shall provide <br>that any officer with whom, or any bank or trust company with which, such moneys shall <br>be deposited shall act as trustee of such moneys and shall hold and apply the same for the <br>purposes hereof, subject to such regulations as this chapter and such proceedings or trust <br>indenture may provide. Effective: March 25, 1960 <br>History: Created 1960 Ky. Acts ch. 173, sec. 13, effective March 25, 1960.