§ 10.8-36. Trust funds.

The pledged revenue received pursuant to the authority of this article shall be deemed to be trust funds, to be held and applied solely as provided in this article and in the resolution authorizing issuance of the obligations. Such pledged revenue may be invested by the county, or its designee, in the manner provided by the resolution authorizing issuance of the obligations. The pledged revenue upon receipt thereof by the county shall be subject to the lien and pledge of the holders of any obligations or any entity other than the county providing credit enhancement on the obligations.

(Ord. No. 2001-30, § 4.07, 6-20-01)