Va. Code Ann. § 2.2-2207
This is the official text of Va. Code Ann. § 2.2-2207, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
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Moneys received deemed trust funds
Official statutory text
All moneys 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 indenture or agreement or resolution securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as a trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to the regulations as this article and the trust indenture or agreement or resolution may provide.
1995, c. 758 , § 9-266.8; 2001, c. 844 .
1995, c. 758 , § 9-266.8; 2001, c. 844 .
Status: in_force · Read it on the official government site
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