[§163D-10]  Revenue bonds; payment andsecurity.  (a)  The revenue bonds shall be payable from and secured by thereal properties benefited or improved and the assessments thereon, or by therevenues derived from the project facility for which the revenue bonds wereissued, including revenue derived from insurance proceeds and reserve accounts,and earnings thereon.

(b)  The corporation may pledge revenuesderived from the project facility financed from the proceeds of the revenuebonds to the punctual payment of the principal, interest, and redemptionpremiums, if any, on the revenue bonds.

(c)  The revenue bonds may be additionallysecured by the pledge or assignment of the loans and other agreements or anynote or other undertaking, obligation, or property held by the corporation tosecure the loans.

(d)  Any pledge made by the corporation shallcreate a perfected security interest in the revenues, moneys, or property sopledged and thereafter received by the corporation from and after the time thatthe financing statement with respect to the revenues, moneys, or property sopledged and thereafter received are filed with the bureau of conveyances.  Uponthis filing, the revenues, moneys, or property so pledged and thereafterreceived by the corporation shall immediately be subject to a lien of any suchpledge without any physical delivery thereof or having claims of any kind intort, contract, or otherwise against the corporation, irrespective of whetherthe parties have notice thereof.  This section shall apply to any financingstatement heretofore or hereafter filed with the bureau of conveyances withrespect to any pledge made to secure revenue bonds issued under this chapter.[L 1994, c 264, pt of §1]