67-8717. LIEN OF PLEDGE. A pledge of sales tax revenues made by the authority is binding from the time the pledge is made. Sales tax revenues so pledged and thereafter received by the authority are immediately subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of a pledge is binding against all parties having claims against the authority of any kind in tort, contract, or otherwise, regardless of whether the parties have notice of the lien and notwithstanding any other law relating to the creation, priority, perfection or enforcement of pledges or liens or otherwise. Neither the resolution nor any other instrument by which a pledge is created must be filed or recorded except in the records of the authority.
History:
[67-8717, added 2001, ch. 130, sec. 1, p. 458.]