1009.998 Funds as trust funds. - Florida Statutes

1009.998 Funds as trust funds.

All moneys received by or on behalf of an authority pursuant to this act, whether as proceeds from the sale of obligations or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this act. Any officer with whom, or any bank or trust company with which, such moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes of this act, subject to such regulations as this act and the bond resolution authorizing the issue of any obligations may provide.

History. s. 508, ch. 2002-387.