Indiana § 5-20-1-10 Pledge of authority assets to obligations of the authority

Indiana Statutes

§ 5-20-1-10 — Pledge of authority assets to obligations of the authority

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 20 HOUSING·Ch. 1 Indiana Housing and Community Development Authority

Pledge of Authority Assets to Obligations of
the Authority. The pledge of any assets or revenues of the authority to
the payment of the principal of, premium, if any, and interest on any
obligations of the authority shall be valid and binding from the time
when the pledge is made, and any such assets or revenues shall
immediately be subject to the lien of such pledge without any physical
delivery thereof or further act. The lien of any such pledge shall be
valid and binding as against all parties having claims of any kind in
tort, contract or otherwise against the authority, irrespective of whether
such parties have notice thereof.
As added by Acts 1978, P.L.28, SEC.1.

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Pledge of Authority Assets to Obligations of
the Authority. The pledge of any assets or revenues of the authority to
the payment of the principal of, premium, if any, and interest on any
obligations of the authority shall be valid and binding from the time
when the pledge is made, and any such assets or revenues shall
immediately be subject to the lien of such pledge without any physical
delivery thereof or further act. The lien of any such pledge shall be
valid and binding as against all parties having claims of any kind in
tort, contract or otherwise against the authority, irrespective of whether
such parties have notice thereof.
As added by Acts 1978, P.L.28, SEC.1.

Indiana § 5-20-1-10 (Pledge of authority assets to obligations of the authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.