{"data":{"id":"us-ky/krs-175b.075","jurisdiction":"us-ky","citation":"KRS 175B.075","heading":"Moneys received under chapter are trust funds -- Permitted investment","body":"of project revenue bond proceeds.\n(1) All moneys received under this chapter, whether as proceeds from the sale of\nproject revenue bonds or revenues, shall be trust funds to be held  and applied solely\nas provided in this chapter. The trust indenture or any other document authorizing\nthe issuance of project revenue bonds or the collection of any revenues shall provide\nthat any officer, bank, or trust company with which the moneys are deposited shall\nact as trustee of the moneys and shall hold and apply them for the purposes outlined\nin this chapter, subject to the provisions of this chapter and the proceedings or trust\nindenture.\n(2) The proceeds of project revenue bonds shall only be invested in direct obligations of\nthe United States of America and direct federal agency obligations or other similar\nobligations to the extent that the full faith and credit of the United States of America\nis pledged for the timely payment thereof. Direct  obligations shall include money\nmarket mutual funds that invest solely in the obligations referenced in this\nsubsection.","path":["KRS Chapter 175B"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5148","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:26Z","sha256":"ac00e26aacdc75ab6bd5005711347df282594adeec66f3c4baa828feb0b61e0e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-175b.070","next":"us-ky/krs-175b.080"},"notice":"GroundRules: Original legal text. Not legal advice."}