Okla. Stat. tit. 3, § 3-535
This is the official text of Okla. Stat. tit. 3, § 3-535, part of Oklahoma’s Stat. tit. 3, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 3,." Browse the sections below, each linked to its official government source.
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Bond proceeds and revenue deemed to be trust funds
Official statutory text
All monies received pursuant to the authority of the Oklahoma
Space Industry Development 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 the Oklahoma Space Industry
Development Act. The resolution authorizing the bonds of any issue
or the trust agreement securing such bonds shall provide that any
officer to whom, or any bank or trust company to which, such money
shall be paid shall act as trustee of the monies and shall hold and
apply the same for the purposes hereof, subject to such regulations
as the Oklahoma Space Industry Development Act and such resolution
or trust agreement may provide.
Oklahoma Statutes - Title 3. Aircraft and Airports Page 149
Space Industry Development 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 the Oklahoma Space Industry
Development Act. The resolution authorizing the bonds of any issue
or the trust agreement securing such bonds shall provide that any
officer to whom, or any bank or trust company to which, such money
shall be paid shall act as trustee of the monies and shall hold and
apply the same for the purposes hereof, subject to such regulations
as the Oklahoma Space Industry Development Act and such resolution
or trust agreement may provide.
Oklahoma Statutes - Title 3. Aircraft and Airports Page 149
Status: in_force · Read it on the official government site
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