Arizona § 5-867 Lien of pledge

Arizona Statutes

§ 5-867 — Lien of pledge

Arizona § 5-867

Title 5Arizona Revised Statutes

Ch. 8TOURISM AND SPORTS AUTHORITY

Art. 3Revenue Bonds

This text of Arizona § 5-867 (Lien of pledge) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 5-867 (2026).

Text

A.Any pledge made under this article is valid and binding from the time when the pledge is made.

B.The monies pledged to the holders of the bonds and received by the authority for placement in the debt service account are immediately subject to the lien of the pledge without any further act. Any lien of any pledge is valid and binding against all parties who have claims of any kind against the authority, regardless of whether the parties have notice of the lien. The official resolution or any instrument by which this pledge is created, when adopted by the board, is notice to all concerned of the creation of the pledge, and those instruments need not be recorded in any other place to perfect the pledge.

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A. Any pledge made under this article is valid and binding from the time when the pledge is made.

B. The monies pledged to the holders of the bonds and received by the authority for placement in the debt service account are immediately subject to the lien of the pledge without any further act. Any lien of any pledge is valid and binding against all parties who have claims of any kind against the authority, regardless of whether the parties have notice of the lien. The official resolution or any instrument by which this pledge is created, when adopted by the board, is notice to all concerned of the creation of the pledge, and those instruments need not be recorded in any other place to perfect the pledge.