Okla. Stat. tit. 70, § 70-23-114
This is the official text of Okla. Stat. tit. 70, § 70-23-114, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Monies received are trust funds
Official statutory text
All monies received pursuant to the authority of this article,
whether as proceeds from the sale of bonds or other 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 monies 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 other 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 monies 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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