Section 37662 Of Chapter 4. Rehabilitation Loans From California Health And Safety Code >> Division 24. >> Part 10. >> Chapter 4.
37662
. All moneys received pursuant to the provisions of this part,
whether proceeds from the sale of bonds or revenues, shall be deemed
to be trust funds to be held and applied solely as provided in this
part. Any bank or trust company in which such moneys are deposited
shall act as trustee of such moneys and shall hold and apply the same
for the purposes specified in this part, subject to the terms of the
resolution authorizing the bonds.