Colorado § 25-25-123 Proceeds as trust funds

Colorado Statutes

§ 25-25-123 — Proceeds as trust funds

Colorado·Title 25 Public·Art. Colorado Health Facilities Authority

All moneys received pursuant to this
article, whether as proceeds from the sale of bonds, notes, or other obligations or
as revenues or receipts, shall be deemed to be trust funds to be held and applied
solely as provided in this article. Any officer, bank, or trust company with which
such moneys are deposited shall act as trustee of such moneys and shall hold and
apply the same for the purposes of this article, subject to such regulations as this
article and the resolution authorizing the bonds, notes, or other obligations of any
issue or the trust agreement securing such obligations shall provide.

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All moneys received pursuant to this
article, whether as proceeds from the sale of bonds, notes, or other obligations or
as revenues or receipts, shall be deemed to be trust funds to be held and applied
solely as provided in this article. Any officer, bank, or trust company with which
such moneys are deposited shall act as trustee of such moneys and shall hold and
apply the same for the purposes of this article, subject to such regulations as this
article and the resolution authorizing the bonds, notes, or other obligations of any
issue or the trust agreement securing such obligations shall provide.

Colorado § 25-25-123 (Proceeds as trust funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.