Okla. Stat. tit. 69, § 69-1712
This is the official text of Okla. Stat. tit. 69, § 69-1712, part of Oklahoma’s Stat. tit. 69, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 69,." Browse the sections below, each linked to its official government source.
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Monies deemed trust funds
Official statutory text
All monies received pursuant to the authority of this article,
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 article. 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 such monies and shall hold and
apply the same for the purposes hereof, subject to such regulations
as this article and such resolution or trust agreement may provide.
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 article. 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 such monies and shall hold and
apply the same for the purposes hereof, subject to such regulations
as this article and such resolution or trust agreement may provide.
Status: in_force · Read it on the official government site
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