All moneys received pursuant to the provisions of this chapter, whether as proceeds from the issue of bonds or as revenues or otherwise, shall be deemed to be trust funds to be held and applied solely as provided in this chapter.
Mass. Gen. Laws ch. 40N, § 15
Moneys received deemed to be trust funds
Known as the Model Water and Sewer Reorganization Act
The act spans §§ 40–40 (27 sections).
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.