                                 CODE OF VIRGINIA

TRUST FUNDS (§ 33.2-2214)

All moneys received pursuant to the authority 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. The resolution
authorizing the bonds of any issue or the trust indenture securing such bonds
shall provide that 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 moneys for the purposes provided in this chapter, subject to
such regulations as this chapter and such resolution or trust indenture may
provide.

HISTORY: 1956, c. 714; 2014, c. 805.