§ 10-9 Use of bond proceeds.

All monies received from any revenue bonds issued and sold under the provisions of this subheading shall be applied solely for the purposes for which the bonds shall be authorized or to the sinking fund created for the payment of such bonds, and there shall be and there hereby is created and granted a lien upon such monies until so applied in favor of the holders of such bonds or the trustee hereinafter provided for in respect of such bonds.