The authority shall, in the resolution providing for issuance of revenue bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer, person, agency, bank, or trust company. The recipient so designated by the authority shall act as trustee of such funds and shall hold and apply the same to the purposes enumerated in this part, subject to such regulations as this part and such resolution or trust indenture may provide.
O.C.G.A. § 12-3-263
Revenue bonds — Payment of proceeds to trustee
— Ga
Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.