§ 9-1-110. SAME—BONDHOLDERS' LIEN.

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All moneys received from any revenue bonds issued and sold under the provisions of this article shall be applied solely for the purpose for which the bonds shall be authorized or to the sinking fund created for the payment of such bonds and are hereby declared to be trust funds for such purposes or such sinking fund, as the case may be, and there shall be and there is hereby created and granted a lien upon such moneys until so applied in favor of the holders of such bonds or the trustee hereinafter provided for in respect of such bonds.

(1988 Code, § 30-10) (Bill No. 48-02, § 1, 7-1-2004)

                    
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