KRS 184.377: Moneys received by board to be held and applied as provided in KRS

184.350 to 184.395 and applicable bond proceedings.

All moneys received by the board of trustees of a transportation improvement district

under KRS 184.350 to 184.395, whether as proceeds from the sale of bonds, as revenues,

or otherwise, are to be held and applied solely as provided in KRS 184.350 to 184.395

and in any applicable bond proceedings. The bond proceedings shall provide that any

officer to whom, or any bank or trus t company to which, revenues or pledged revenues

are paid shall act as trustee of the moneys and hold and apply them for the purposes

thereof, subject to applicable provisions of KRS 184.350 to 184.395 and the bond

proceedings.