§ 2-657. Trust funds.

Latest version.

The pledged revenues received pursuant to the authority of this division shall be deemed to be trust funds, to be held and applied solely as provided in this division and in the indenture of trust. Such pledged revenues may be invested by the county, or its designee, in investment securities. The indenture of trust may provide that the pledged revenues shall be subject to the lien and pledge of the bondholders upon receipt thereof by the trustee.

(Ord. No. 86-36, § 7)

                    
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