17-284. Pledges; lien; personal liability;
incontestability
A. Any pledge made pursuant to this article is valid and binding from the time the
pledge is made. Monies pledged and received by the commission or its fiscal agent for
deposit in the conservation development fund are immediately subject to the lien of the
pledge without any physical delivery or further act, and the lien of the pledge is valid
and binding against all parties with or without notice of the pledge who have claims of
any kind against the commission. The instrument by which the pledge is created is, when
placed in the records of the commission, notice to all persons of the creation of the
pledge and need not be recorded in any other place.
B. The members of the commission and any person executing a bond are not personally
liable for the payment of a bond.
C. After the sale and delivery of a bond it is incontestable by the commission and
is a legal and binding obligation of the commission notwithstanding any imperfection in
proceedings with respect to site selection, property acquisition, planning, construction,
operation or administration of or for any game and fish facility or any other action
taken by the commission not directly affecting the issuance of the bonds.
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