Title 46, Chapter 3, Section 149
( 46-3-149)
All funds received pursuant to authority of this article, whether as
proceeds from the sale of revenue bonds or as revenues, fees, tolls,
charges, or other earnings or as gifts, grants, or other
contributions, shall be deemed to be trust funds to be held and
applied solely as provided in this article. The bond owners entitled
to receive the benefits of such funds shall have a lien on all such
funds until applied as provided in any such resolution, trust
agreement, or indenture of the authority. |