§338.40.  Trust fund

The proceeds of the sale of bonds issued hereunder shall constitute a trust fund to be used exclusively for the purpose or purposes for which the bonds are authorized to be issued but the purchasers of the bonds shall not be obliged to see to the application thereof.

Acts 1962, No. 300, §11; Redesignated from R.S. 33:2717.11 pursuant to Acts 2011, No. 248, §4.