12-3714.   Moneys deemed to be trust fund; trustee; duties.All moneys received pursuant to the authority of this act, whether asproceeds from the sale of bonds or as revenues or as an appropriation bythe state of Kansas, shall be deemed to be trust funds to be held andapplied solely as provided in this act. The resolution authorizing thebonds of any issue or the trust agreement securing such bonds shall providethat any officer with whom, or any bank or trust company with which, suchmoneys shall be deposited shall act as trustees of such moneys and shallhold and apply the same for the purposes hereof, subject to suchregulations as this act and such resolution or trust agreement may provide.

      History:   L. 1973, ch. 69, § 5; April 25.