Guam § 64109 - Pledge of Revenues; Lien.

§ 64109. Pledge of Revenues; Lien.

Any pledge of revenues or other money made by the Authority shall

be valid and binding from the time when the pledge is made; the

revenues or other money so pledged and thereafter received by the

Authority shall immediately be subject to the lien of such pledge without

any physical delivery thereof or further act, and 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. Neither the resolution nor

any other instrument by which a pledge is created need be filed or

recorded except in the records of the Authority.

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