                                 CODE OF VIRGINIA

MONEYS RECEIVED DEEMED TRUST FUNDS (§ 2.2-2207)

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.

HISTORY: 1995, c. 758, § 9-266.8; 2001, c. 844.