<?xml version='1.0' encoding='utf-8'?>
<section article="gen" article_name="Environment" number="9-958" title_number="9" title_name="Water, Ice, and Sanitary Facilities" subtitle_number="9" subtitle_name="Water and Sewer Authorities">
  <level label="a">
    <text>Any money that an authority receives under this subtitle as proceeds from the sale of bonds or as revenues is a trust fund that the authority shall hold and apply only as provided in this subtitle.</text>
  </level>
  <level label="b">
    <text>The resolution or trust agreement that provides for the issuance of or secures bonds of an authority shall provide that any officer to whom, or any bank, trust company, or other fiscal agent to which, the authority pays any money received under this subtitle shall:</text>
    <level label="1">
      <text>Act as trustee of the money; and</text>
    </level>
    <level label="2">
      <text>Hold and apply the money:</text>
      <level label="i">
        <text>For the purposes of this subtitle; and</text>
      </level>
      <level label="ii">
        <text>Subject to any provision of the resolution or trust agreement.</text>
      </level>
    </level>
  </level>
</section>
