§ 2-464. Trust funds.  


Latest version.
  • All funds received pursuant to authority of this division, whether as proceeds from the sale of revenue bonds or as revenues, rents, fees, 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 division, and the bond owners entitled to receive the benefits of such funds shall have a lien on all such funds until applied as provided for in any such resolution, trust agreement, or indenture of the authority.

(1970 Ga. Laws (Act No. 786), page 2126, § 19)