§ A3-9. Trust funds.

Latest version.

All moneys received pursuant to the authority of this act [article] shall be deemed to be trust funds, to be held and applied solely as provided in this act [article]. The resolution authorizing the issuance of bonds or the trust agreement securing such bonds shall provide that any officer to whom, or bank, trust company or fiscal agent to which such moneys shall be paid shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as the act [article] and such resolution or trust agreement may provide.

(Laws of Fla., Ch. 81-436, § 10)

                    
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