§ 3.116.190 — Pledge of revenues, money or property-Lien

3.116.190 Pledge of revenues, money or property-Lien.

Any pledge of revenues or other moneys or assets pursuant to the provisions of this chapter shall be valid and binding from the item such pledge is made. Revenues, moneys and assets so pledged and thereafter received by the city 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 city, irrespective of whether such parties have notice thereof. Neither the resolution nor any indenture by which a pledge is created need be filed or recorded except in the records of the city. (Prior code § 80.03.019)