§206E-154  Revenue bonds; payment andsecurity.  (a)  The revenue bonds shall be payable from and secured by therevenues derived from the public facility for which the revenue bonds areissued, including revenue derived from insurance proceeds and reserve accountsand earnings thereon.

(b)  The authority may pledge revenues derivedfrom the public facility financed from the proceeds of the revenue bonds to thepunctual payment of the principal, interest, and redemption premiums, 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 authority tosecure the loans.

(d)  Any pledge made by the authority shallcreate a perfected security interest in the revenues, moneys, or property sopledged and thereafter received by the authority from and after the time that afinancing statement with respect to the revenues, moneys, or property sopledged and thereafter received shall be filed with the bureau of conveyances. Upon such filing, the revenues, moneys, or property so pledged thereafterreceived by the authority shall immediately be subject to the lien of any suchpledge without any physical delivery thereof or further act, and the lien ofsuch pledge shall be prior to the lien of all parties having claims of any kindin tort, contract, or otherwise against the authority, irrespective of whethersuch 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 part. [L1985, c 268, pt of §1]