Delaware Laws - Title 29 State Government
CHAPTER 50. STATE ECONOMIC DEVELOPMENT
Subchapter IV. Delaware Economic Development Authority

Sec. 5058. Pledge of revenues or other property. (12500)(1-click HTML)

Any pledge of revenues or other property made by the Authority shall be valid and binding from the time when the pledge is made. Revenues 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. The lien of any such pledge or revenues or other property shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Authority, whether or not such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be filed or recorded; however, copies of such resolution or instrument shall be retained by the Authority. (12501)

(62 Del. Laws, c. 269, Sec. 1; 63 Del. Laws, c. 189, Sec. 5(a).) (12502)

  

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