Connecticut § 10a-189 (Formerly Sec. 10-348). Use of bond proceeds and revenues.

Connecticut Statutes

§ 10a-189 — (Formerly Sec. 10-348). Use of bond proceeds and revenues.

Connecticut·Title 10a State System of Higher Education·Ch. 187 Connecticut Health and Educational Facilities Authority

All moneys received pursuant to the authority of this chapter, 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 chapter. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this chapter and the resolution authorizing the bonds of any issue or the trust agreement securing such bonds may provide.

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All moneys received pursuant to the authority of this chapter, 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 chapter. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this chapter and the resolution authorizing the bonds of any issue or the trust agreement securing such bonds may provide.

Connecticut § 10a-189 ((Formerly Sec. 10-348). Use of bond proceeds and revenues.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.