                                 CODE OF VIRGINIA

MONEYS RECEIVED DEEMED TRUST FUNDS (§ 15.2-5359)

All moneys received pursuant to the provisions of this chapter, 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 chapter. Any officer
with whom, or any bank or trust company with which, such moneys are deposited
shall act as trustee of such moneys and shall hold and apply the same for the
purposes hereof, subject to the provisions of this chapter and the resolution
authorizing the issuance of such bonds or the trust indenture securing the same.

HISTORY: Code 1950, § 32-271.3; 1973, c. 462, § 15.1-1594; 1979, c. 719; 1997,
c. 587.