19-29-27 - Designation of agent for receipt and disbursement of funds.
§ 19-29-27. Designation of agent for receipt and disbursement of funds.
An authority is authorized to designate the governor's office of planning and coordination as its agent to accept, receive, receipt for and disburse federal and state moneys, and other moneys, public or private, made available by grant or loan or both, to accomplish in whole or in part, any of the purposes of this chapter. All moneys received by the said agent pursuant to this section shall be deposited in the state treasury, and unless otherwise prescribed by the agency from which such moneys were received, shall be kept in separate funds designated according to the purposes for which the moneys were made available, and held by the state in trust for such purpose.
Sources: Laws, 1980, ch. 544, § 14, eff from and after July 1, 1980.