All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter.
Code 1950, § 15-714.24; 1962, c. 393, § 12, § 15.1-1282; 1997, c. 587.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 56 - Public Recreational Facilities Authorities Act
§ 15.2-5602. Creation of authorities
§ 15.2-5603. Board to exercise powers of authority
§ 15.2-5604. Powers of authority generally
§ 15.2-5605. Transfers of property, appropriations and contracts by participating localities
§ 15.2-5606. Acquisition, maintenance and operation of projects; revenues from projects
§ 15.2-5607. Authority to issue bonds; source of payment
§ 15.2-5609. Trust indenture or agreement to secure payment of bonds
§ 15.2-5610. Fees, rents and other charges; reserves
§ 15.2-5611. Moneys received deemed trust funds
§ 15.2-5612. Remedies of bondholders and trustee
§ 15.2-5613. Authority to exercise a governmental function; exemption from taxation
§ 15.2-5614. Bonds legal investments
§ 15.2-5615. Chapter to constitute complete authority for acts authorized; liberal construction
§ 15.2-5616. Dissolution of authority; disposition of property