Revenue Bonds - Payment of Proceeds to Trustee

Checkout our iOS App for a better way to browser and research.

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.

(Ga. L. 1950, p. 152, § 20; Ga. L. 1960, p. 89, § 1.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 64 Am. Jur. 2d, Public Securities and Obligations, § 159.


Download our app to see the most-to-date content.