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 or person who or any agency, bank, or trust company which shall act as trustee of such funds and shall hold and apply such funds as provided in this article, subject to such regulations as this article and such resolution or trust indenture may provide.
(Ga. L. 1953, Jan.-Feb. Sess., p. 302, § 23; Code 1933, § 95A-1260, enacted by Ga. L. 1973, p. 947, § 1.)