Title 12, Chapter 3, Section 218
( 12-3-218)
All moneys received pursuant to the authority of this part, whether
as proceeds from the sale of bonds or as revenues, tolls, and
earnings, shall be deemed trust funds to be held and applied solely
as provided in this part. The bondholders paying or entitled to
receive the benefit of such funds shall have a lien on all such
funds until applied as provided for in any resolution or trust
indenture of the association. |