Section 10-329 - Sinking Fund -- Nature and Application

A sinking fund: (1) may be held: (i) for all of the bonds issued to finance projects at a particular participating institution without distinction or priority of one bond over another bond; (ii) for a particular project and for the bonds issued for that project; and (iii) for bonds having a lien subordinate to the lien securing other bonds; and (2) shall be subject to the trust agreement.