The pledge of revenue of an authority to the payment of the principal or interest on bonds or notes of the authority is valid and binding from the time the pledge is made, and the revenue is immediately subject to the lien of the pledge without physical delivery or further act. The lien of a pledge is valid and binding against all parties having claims of any kind against the authority irrespective of whether those parties have notice of the lien of the pledge.
Structure Alaska Statutes
Title 29. Municipal Government
Chapter 35. Municipal Powers and Duties
Sec. 29.35.600. Purpose of authorities.
Sec. 29.35.605. Establishment of port authorities.
Sec. 29.35.610. Dissolution of a port authority.
Sec. 29.35.615. Municipal property.
Sec. 29.35.625. Bonds of a port authority; superior court jurisdiction.
Sec. 29.35.630. Bonds eligible for investment.
Sec. 29.35.635. Validity of pledge.
Sec. 29.35.640. Credit of state or a municipality not pledged.
Sec. 29.35.645. Pledges of the state and municipalities.
Sec. 29.35.650. Limitation of liability.
Sec. 29.35.655. Limitation on personal liability.
Sec. 29.35.660. Fidelity bond.
Sec. 29.35.665. No taxing authority.
Sec. 29.35.670. Exemption from taxation.
Sec. 29.35.675. Development plan.
Sec. 29.35.680. Administration of port authorities; board.
Sec. 29.35.690. Bylaws and regulations.
Sec. 29.35.695. Authority subject to public records and open meetings laws.
Sec. 29.35.700. Annual report.
Sec. 29.35.720. Conflicting laws inapplicable.
Sec. 29.35.722. Ownership or operation of certain state facilities prohibited.