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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>76260</law_id><section_number>33.2-296</section_number><catch_line>Revenues of the Authority</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="33.2">Highways and Other Surface Transportation Systems</unit><unit label="subtitle" level="2" order_by="1" identifier="I">General Provisions and Transportation Entities</unit><unit label="chapter" level="3" order_by="1" identifier="2">Transportation Entities</unit><unit label="article" level="4" order_by="1" identifier="6">Virginia Passenger Rail Authority Act</unit></structure><text>
						<section><p>All moneys received by the <span class="dictionary">Authority</span> pursuant to this article including, without limitation, moneys received from the Commonwealth Rail Fund established pursuant to &#xA7;&#xA0;<a class="law" title="Commonwealth Rail Fund" href="/33.2-1526.4/">33.2-1526.4</a>, whether as proceeds from the sale of <span class="dictionary"><span class="dictionary">bonds</span></span> 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 <span class="dictionary"><span class="dictionary">bonds</span></span> of any <span class="dictionary">issue</span> or the trust indenture or agreement or resolution securing such <span class="dictionary"><span class="dictionary">bonds</span></span> 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 such regulations as this article and such trust indenture or agreement or resolution may provide.</p></section></text><history>2020, cc. 1230, 1275.</history><metadata></metadata></law>
