18A:72A-12.Ā  Moneys of authority;Ā  trust funds 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.Ā  Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the sameĀ  for the purposes hereof, subject to such regulations as this chapter and theĀ  resolution authorizing the bonds of any issue or the trust agreement securingĀ  such bonds may provide.
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L.1967, c.271.
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