[§304A-2679]  Pledge of revenue of theuniversity.  The resolution authorizing the issuance of revenue bonds maypledge to the payment thereof all or any part of the revenue of the university,and the pledge shall constitute a lien on revenue of the university to theextent and in the manner provided in the resolution prior and paramount to anyclaim or other obligation of any nature against the revenue of the universityso pledged subsequently arising or incurred.  The board may provide in theresolution that all revenue bonds of the same issue be equally and ratablysecured without priority by reason of number, date, or maturity of the bonds,date of sale, execution, or delivery thereof.  Any pledge of revenue of theuniversity contained in any resolution adopted under this subpart shall bevalid from and after the adoption of the resolution without physical deliveryof the revenue of the university pledged or the necessity of any further actionby the State or the board, or any officer or agent of the State or the board.[L 2007, c 161, pt of §1]