§ 42-64-19 - Trust funds.
SECTION 42-64-19
§ 42-64-19 Trust funds. – All moneys received pursuant to the authority of this chapter, whether asproceeds from the sale of bonds or notes or as revenues, receipts, or income,and moneys held by the Rhode Island economic development corporation in thetire site remediation account established pursuant to § 23-63-4.1, shallbe trust funds to be held and applied solely as provided in the proceedingsunder which the bonds or notes are authorized. Any officer with whom or anybank or trust company with which the moneys shall be deposited as trustee shallhold and apply the moneys for the purposes thereof, subject to the applicableprovisions of this chapter, the proceedings authorizing the bonds or notes andthe trust agreement securing the bonds or notes, if any.