California Law (Last Updated: March 4, 2014) |
Health and Safety Code - HSC |
Division 27. CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT |
Chapter 1. California Pollution Control Financing Authority |
ARTICLE 6. Construction and Leases of Facilities |
Section 44553.
Latest version.
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All moneys received pursuant to the provisions of this division, whether as proceeds from the sale of bonds, notes, or other evidences of indebtedness or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this division. Any bank or trust company with which these moneys shall be deposited shall act as trustee of these moneys and shall hold and apply the same for the purposes hereof, subject to regulations as the resolution authorizing the bonds of any issue or the trust agreement securing these bonds may provide.
(Amended by Stats. 2010, Ch. 414, Sec. 4. Effective September 28, 2010.)