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- Alaska Statutes.
- Title 29. Municipal Government
- Chapter 35. Municipal Powers and Duties
- Section 635. Validity of Pledge.
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. Bonds Eligible For Investment.
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. Credit of State or a Municipality Not Pledged.
AS 29.35.635. Validity of Pledge.
The pledge of revenue of an authority to the payment of the principal or interest on bonds or notes of the authority is
valid and binding from the time the pledge is made, and the revenue is immediately subject to the lien of the pledge
without physical delivery or further act. The lien of a pledge is valid and binding against all parties having claims
of any kind against the authority irrespective of whether those parties have notice of the lien of the pledge.
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