§206E-154  Revenue bonds; payment and
security.  (a)  The revenue bonds shall be payable from and secured by the
revenues derived from the public facility for which the revenue bonds are
issued, including revenue derived from insurance proceeds and reserve accounts
and earnings thereon.



(b)  The authority may pledge revenues derived
from the public facility financed from the proceeds of the revenue bonds to the
punctual payment of the principal, interest, and redemption premiums, if any,
on the revenue bonds.



(c)  The revenue bonds may be additionally
secured by the pledge or assignment of the loans and other agreements or any
note or other undertaking, obligation, or property held by the authority to
secure the loans.



(d)  Any pledge made by the authority shall
create a perfected security interest in the revenues, moneys, or property so
pledged and thereafter received by the authority from and after the time that a
financing statement with respect to the revenues, moneys, or property so
pledged and thereafter received shall be filed with the bureau of conveyances. 
Upon such filing, the revenues, moneys, or property so pledged thereafter
received by the authority shall immediately be subject to the lien of any such
pledge without any physical delivery thereof or further act, and the lien of
such pledge shall be prior to the lien of all parties having claims of any kind
in tort, contract, or otherwise against the authority, irrespective of whether
such parties have notice thereof.  This section shall apply to any financing
statement heretofore or hereafter filed with the bureau of conveyances with
respect to any pledge made to secure revenue bonds issued under this part. [L
1985, c 268, pt of §1]