{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/10.1-1611.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/10.1-1611.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/10.1-1611.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/10.1-1611.html"}],"law_id":345794,"edition_id":2,"section_id":345794,"structure_id":49653,"section_number":"10.1-1611","catch_line":"Moneys received deemed trust funds","history":"1986, c. 360, \u00a7 10-158.8; 1988, c. 891.","full_text":"All moneys received pursuant to the authority of this chapter, 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 chapter. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys are deposited shall act as a trustee of such moneys and shall hold and apply the moneys for the purposes hereof, subject to such regulations as this chapter and the resolution or trust agreement may provide.\n\n","order_by":null,"text":{"0":{"id":1289336,"text":"All moneys received pursuant to the authority of this chapter, 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 chapter. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys are deposited shall act as a trustee of such moneys and shall hold and apply the moneys for the purposes hereof, subject to such regulations as this chapter and the resolution or trust agreement may provide.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":49653,"edition_id":2,"name":"Virginia Recreational Facilities Authority Act","identifier":"16","label":"chapter","depth":3,"order_by":10,"parent_id":49595,"metadata":{"child_laws":24,"child_structures":0},"date_created":"2026-08-02 02:12:57","date_modified":"2026-08-02 12:28:58","permalink":{"id":1373549,"object_type":"structure","relational_id":49653,"identifier":"16","token":"10.1\/II\/16","url":"\/10.1\/II\/16\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49595,"edition_id":2,"name":"Activities Administered by Other Entities","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":49584,"metadata":{"child_laws":483,"child_structures":70},"date_created":"2026-08-02 02:12:05","date_modified":"2026-08-02 12:28:51","permalink":{"id":1371835,"object_type":"structure","relational_id":49595,"identifier":"II","token":"10.1\/II","url":"\/10.1\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49584,"edition_id":2,"name":"Conservation","identifier":"10.1","label":"title","depth":1,"order_by":38,"parent_id":null,"metadata":{"child_laws":886,"child_structures":125},"date_created":"2026-08-02 02:11:52","date_modified":"2026-08-02 12:28:44","permalink":{"id":1370315,"object_type":"structure","relational_id":49584,"identifier":"10.1","token":"10.1","url":"\/10.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":345783,"structure_id":49653,"section_number":"10.1-1600","catch_line":"Definitions","url":"\/10.1-1600\/","token":"10.1\/II\/16\/10.1-1600","metadata":false},{"id":345784,"structure_id":49653,"section_number":"10.1-1601","catch_line":"Authority created","url":"\/10.1-1601\/","token":"10.1\/II\/16\/10.1-1601","metadata":false},{"id":345785,"structure_id":49653,"section_number":"10.1-1602","catch_line":"Board of directors","url":"\/10.1-1602\/","token":"10.1\/II\/16\/10.1-1602","metadata":false},{"id":345786,"structure_id":49653,"section_number":"10.1-1603","catch_line":"Powers of Authority","url":"\/10.1-1603\/","token":"10.1\/II\/16\/10.1-1603","metadata":false},{"id":345787,"structure_id":49653,"section_number":"10.1-1604","catch_line":"Form, terms, and execution of bonds","url":"\/10.1-1604\/","token":"10.1\/II\/16\/10.1-1604","metadata":false},{"id":345788,"structure_id":49653,"section_number":"10.1-1605","catch_line":"Issuance and sale of bonds","url":"\/10.1-1605\/","token":"10.1\/II\/16\/10.1-1605","metadata":false},{"id":345789,"structure_id":49653,"section_number":"10.1-1606","catch_line":"Use of bond proceeds","url":"\/10.1-1606\/","token":"10.1\/II\/16\/10.1-1606","metadata":false},{"id":345790,"structure_id":49653,"section_number":"10.1-1607","catch_line":"Interim receipts or temporary bonds","url":"\/10.1-1607\/","token":"10.1\/II\/16\/10.1-1607","metadata":false},{"id":345791,"structure_id":49653,"section_number":"10.1-1608","catch_line":"Faith and credit of Commonwealth or political subdivision not pledged","url":"\/10.1-1608\/","token":"10.1\/II\/16\/10.1-1608","metadata":false},{"id":345792,"structure_id":49653,"section_number":"10.1-1609","catch_line":"Expenses of the Authority","url":"\/10.1-1609\/","token":"10.1\/II\/16\/10.1-1609","metadata":false},{"id":345793,"structure_id":49653,"section_number":"10.1-1610","catch_line":"Trust agreement securing bonds","url":"\/10.1-1610\/","token":"10.1\/II\/16\/10.1-1610","metadata":false},{"id":345794,"structure_id":49653,"section_number":"10.1-1611","catch_line":"Moneys received deemed trust funds","url":"\/10.1-1611\/","token":"10.1\/II\/16\/10.1-1611","metadata":false},{"id":345795,"structure_id":49653,"section_number":"10.1-1612","catch_line":"Proceedings by bondholder or trustee to enforce rights","url":"\/10.1-1612\/","token":"10.1\/II\/16\/10.1-1612","metadata":false},{"id":345796,"structure_id":49653,"section_number":"10.1-1613","catch_line":"Bonds made securities for investment and deposit","url":"\/10.1-1613\/","token":"10.1\/II\/16\/10.1-1613","metadata":false},{"id":345797,"structure_id":49653,"section_number":"10.1-1614","catch_line":"Revenue refunding bonds; bonds for refunding and for cost of additional projects","url":"\/10.1-1614\/","token":"10.1\/II\/16\/10.1-1614","metadata":false},{"id":345798,"structure_id":49653,"section_number":"10.1-1615","catch_line":"Grants or loans of public or private funds","url":"\/10.1-1615\/","token":"10.1\/II\/16\/10.1-1615","metadata":false},{"id":345799,"structure_id":49653,"section_number":"10.1-1616","catch_line":"Exemption from taxes or assessments","url":"\/10.1-1616\/","token":"10.1\/II\/16\/10.1-1616","metadata":false},{"id":345800,"structure_id":49653,"section_number":"10.1-1617","catch_line":"Moneys of Authority","url":"\/10.1-1617\/","token":"10.1\/II\/16\/10.1-1617","metadata":false},{"id":345801,"structure_id":49653,"section_number":"10.1-1618","catch_line":"Title to property","url":"\/10.1-1618\/","token":"10.1\/II\/16\/10.1-1618","metadata":false},{"id":345802,"structure_id":49653,"section_number":"10.1-1619","catch_line":"Violation of regulations","url":"\/10.1-1619\/","token":"10.1\/II\/16\/10.1-1619","metadata":false},{"id":345803,"structure_id":49653,"section_number":"10.1-1620","catch_line":"Appointment of special conservators of the peace","url":"\/10.1-1620\/","token":"10.1\/II\/16\/10.1-1620","metadata":false},{"id":345804,"structure_id":49653,"section_number":"10.1-1621","catch_line":"Conveyance or lease of park to Authority","url":"\/10.1-1621\/","token":"10.1\/II\/16\/10.1-1621","metadata":false},{"id":345805,"structure_id":49653,"section_number":"10.1-1622","catch_line":"Recordation of conveyances of real estate to Authority","url":"\/10.1-1622\/","token":"10.1\/II\/16\/10.1-1622","metadata":false},{"id":345806,"structure_id":49653,"section_number":"10.1-1623","catch_line":"Dissolution of Authority; disposition of property","url":"\/10.1-1623\/","token":"10.1\/II\/16\/10.1-1623","metadata":false}],"previous_section":{"id":345793,"structure_id":49653,"section_number":"10.1-1610","catch_line":"Trust agreement securing bonds","url":"\/10.1-1610\/","token":"10.1\/II\/16\/10.1-1610","metadata":false},"next_section":{"id":345795,"structure_id":49653,"section_number":"10.1-1612","catch_line":"Proceedings by bondholder or trustee to enforce rights","url":"\/10.1-1612\/","token":"10.1\/II\/16\/10.1-1612","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/10.1-1611\/","history_text":"<p>This law was first created in 1986. The record of its establishment is cataloged in chapter 360 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1986 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1988, chapter 891.<\/p>","references":false,"refers_to":false,"permalink":{"id":1373595,"object_type":"law","relational_id":345794,"identifier":"10.1-1611","token":"10.1\/II\/16\/10.1-1611","url":"\/10.1-1611\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/10.1-1611\/","token":"10.1\/II\/16\/10.1-1611","dublin_core":{"Title":"Moneys received deemed trust funds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 10.1-1611","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>All moneys received pursuant to the <span class=\"dictionary\">authority<\/span> of this chapter, whether as proceeds from the sale of <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. The resolution authorizing the <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> of any <span class=\"dictionary\">issue<\/span> or the trust agreement securing such <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> shall provide that any officer with whom, or any bank or trust company with which, such moneys are deposited shall act as a trustee of such moneys and shall hold and apply the moneys for the purposes hereof, subject to such regulations as this chapter and the resolution or trust agreement may provide.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nMONEYS RECEIVED DEEMED TRUST FUNDS (\u00a7 10.1-1611)\n\nAll moneys received pursuant to the authority of this chapter, whether as\nproceeds from the sale of bonds or as revenues, shall be deemed to be trust\nfunds to be held and applied solely as provided in this chapter. The resolution\nauthorizing the bonds of any issue or the trust agreement securing such bonds\nshall provide that any officer with whom, or any bank or trust company with\nwhich, such moneys are deposited shall act as a trustee of such moneys and shall\nhold and apply the moneys for the purposes hereof, subject to such regulations\nas this chapter and the resolution or trust agreement may provide.\n\nHISTORY: 1986, c. 360, \u00a7 10-158.8; 1988, c. 891.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}