Idaho Code § 40-406

This is the official text of Idaho Code § 40-406, part of Idaho’s Code — part of the compiled statutory law of Idaho, published by the state as "Code." Browse the sections below, each linked to its official government source.

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40-406 TRUST FUNDS.

Official statutory text

40-406. Trust funds. All moneys received relating to turnpike projects, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely for turnpike projects. A resolution authorizing bonds of any issue or a trust agreement securing bonds shall provide that any officer with whom, or any bank or trust company with which, the moneys shall be deposited shall act as trustee of the money and shall hold and apply it for the purposes of the turnpike project, subject to the resolution or as a trust agreement may provide.

History:

[40-406, added 1985, ch. 253, sec. 2, p. 608.]

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.