§ 46-25-61 - Trust funds.
SECTION 46-25-61
§ 46-25-61 Trust funds. – All money received pursuant to the issuance of revenue bonds or revenue notesor as revenues, receipts or income, shall be trust funds if such is providedfor in the proceedings under which the revenue bonds or revenue notes areauthorized. Any officer with whom, or any bank or trust company with which,money shall be deposited as trustee hereof shall hold and apply the money forthe purposes thereof, subject to the applicable provisions of this chapter, theproceedings authorizing the revenue bonds or revenue notes, and the trustagreement securing the revenue bonds or revenue notes, if any.