§ 21 — Trust funds

§ 21. Trust funds. All moneys received pursuant to the authority of\nthis act, whether as proceeds from the sale of bonds or notes or as\nrevenues, receipts or income, shall be deemed to be trust funds to be\nheld and applied solely as provided in the proceedings under which such\nbonds or notes are authorized. Any officer with whom or any bank or\ntrust company with which such moneys shall be deposited as trustee\nthereof shall hold and apply the same for the purposes thereof, subject\nto such provisions as this act and the proceedings authorizing the bonds\nor notes of any issue or the trust agreement securing such bonds or\nnotes may provide.\n