KRS 175.540: Trust funds.

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. The proceedings or the trust indenture s hall provide

that any officer with whom, or any bank or trust company with which, such moneys shall

be deposited shall act as trustee of such moneys and shall hold and apply the same for the

purposes hereof, subject to such regulations as this chapter and such proceedings or trust

indenture may provide.