All moneys received under the provisions of this chapter, whether as proceeds from the sale of bonds or notes or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this chapter and the resolution authorizing the bonds or notes of any issue or the trust agreement securing such bonds or notes may provide.
Conn. Gen. Stat. § 10a-234
Use of bond proceeds and revenues
Known as the Connecticut Higher Education Supplemental Loan Authority Act
The act spans §§ 10–10 (35 sections).
(P.A. 82-313, S. 14, 28.)
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.