Sec. 10-61. Trust funds.

All moneys received pursuant to the provisions of this division, whether proceeds from the sale of bonds or revenues or other moneys or assets authorized by this division to be pledged to secure payment of bonds, shall, to the extent set forth in the resolution or trust agreement authorizing the issuance of the bonds, be deemed to be trust funds to be held and applied solely for the purposes of this division. Any bank or trust company in which such moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes specified in this division, subject to the terms of the resolution, agreement or indenture authorizing the bonds. (Ord. No. 2327 (NCS), § 2.)