All moneys received pursuant to the authority of this part, 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 part. 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 act and the resolution
authorizing the bonds of any issue or the trust agreement securing such bonds may
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