Section 20.21. Reserve fund  


Latest version.
  • A trust may create and establish a reserve fund
      to  secure  the  bonds of a trust and may pay into such reserve fund any
      monies which may be made available to the trust for the purposes of such
      fund from  any  source,  including  without  limitation  tax-equivalency
      payments.  The monies held in or credited to any such reserve fund shall
      be used only in accordance with the proceedings under  which  the  bonds
      shall be issued or as provided by special law.