Statutes > Kentucky Statutes > CHAPTER 177 STATE AND FEDERAL HIGHWAYS -- LIMITED ACCESS FACILITIES -- TURNPIKES -- ROAD BONDS -- BILLBOARDS -- RECYCLERS > 177.490 Trust funds.

177.490 Trust funds.

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177.490 Trust funds. All moneys received pursuant to the authority of KRS 177.390 to 177.570, whether as <br>proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be <br>held and applied solely as provided in KRS 177.390 to 177.570. The proceedings <br>authorizing the bonds of any issue or the trust agreement securing such bonds shall <br>provide that any officer with whom, or any bank or trust company with which, such <br>moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the <br>same for the purposes hereof, subject to such regulations as KRS 177.390 to 177.570 and <br>such proceedings or trust agreement may provide. History: Created 1950 Ky. Acts ch. 157, sec. 11.