Find Bill
Find Your Legislator
Legislative Deadlines
Oct. 21, 2017
RSS Feed Permanent URL -A +A

2016 Statute



Prev Article 8. - PUBLIC UTILITIESNext


12-882.Same; moneys received deemed trust funds; trust agreements. All moneys received pursuant to the authority of this act, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this act. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustees of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this act and such resolution or trust agreement may provide.

History: L. 1974, ch. 260, § 13; March 18.



Prev Article 8. - PUBLIC UTILITIESNext
2017. Powered by KLISS. Rendered: 2017-10-21T12:47:37. Head Rev No: 298447