§ 16. Trust funds.

Latest version.

All funds received pursuant to authority hereof, whether as proceeds from the sale of revenue bonds or as revenue, rents, fees, charges, or other earnings or as grants, gifts, or other contributions, shall be deemed to be trust funds to be held and applied by the Authority, solely as provided herein; and the bondholders entitled to receive the benefits of such funds shall have a lien on all such funds until the same are applied as provided for in any such resolution or trust instrument of the Authority.

                    
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