Any pledge made by a municipality or joint agency pursuant to this article shall be valid and binding from the date the pledge is made. The revenues, securities and other moneys so pledged and then held or thereafter received by the municipality or joint agency or any fiduciary shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the municipality or joint agency without regard to whether such parties have notice thereof. The resolution trust indenture or other security instrument by which a pledge is created need not be filed or recorded in any manner.
Structure Mississippi Code
Title 77 - Public Utilities and Carriers
Article 15 - Joint municipal electric power
§ 77-5-703. Declaration of purpose
§ 77-5-707. Powers of municipality; determining power and energy needs; filing of determination
§ 77-5-711. Sale or exchange by municipality of excess capacity or output
§ 77-5-713. Application for licenses, permits, certificates or approvals
§ 77-5-719. Additional membership in joint agencies; withdrawal from membership
§ 77-5-721. Board of commissioners of joint agency; officers; quorum; voting; expenses
§ 77-5-723. Board of commissioners of joint agency; executive committee
§ 77-5-725. Rights and powers of joint agencies
§ 77-5-729. Member municipalities may contract to buy power from joint agencies
§ 77-5-731. Sale or exchange by joint agency of excess capacity or output
§ 77-5-735. Exemption from laws relating to competitive bidding
§ 77-5-737. Joint agency pledge bonds
§ 77-5-739. Issuance of bonds by municipalities and joint agencies
§ 77-5-743. Fixing, charging and collecting rents, fees, rates and charges; municipalities
§ 77-5-745. Fixing, charging and collecting rents, fees, rates and charges; joint agencies
§ 77-5-747. Pledges made by municipalities or joint agencies
§ 77-5-749. Temporary investment and reinvestment of money
§ 77-5-751. Proceedings to enforce rights of holders of bonds
§ 77-5-753. Bonds issued under this article as proper and legal investments
§ 77-5-755. Bonds issued as special obligations of municipality or joint agency issuing them
§ 77-5-759. Tax exempt status; bonds
§ 77-5-761. Tax exempt status; interest in project owned by municipality or joint agency
§ 77-5-763. Rights, privileges and immunities of personnel
§ 77-5-765. Dissolution of joint agencies
§ 77-5-767. Annual reports; joint agencies; municipalities
§ 77-5-769. Application of laws of other states and the United States
§ 77-5-771. Grants-in-aid and loans from federal and state governments
§ 77-5-773. Eminent domain; crossing lines and rights-of-way of utilities
§ 77-5-775. Personal liability of certain personnel