90-6-113. Validity of pledge. Any pledge made by the board shall be valid and binding from the time the pledge is made. The revenues, moneys, or property pledged and thereafter received by the board shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act. The lien of any pledge shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the board, irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.
History: En. 35-510 by Sec. 11, Ch. 461, L. 1975; R.C.M. 1947, 35-510.
Structure Montana Code Annotated
Title 90. Planning, Research, and Development
Chapter 6. Community Impact -- Planning and Abatement
90-6-102. Legislative declaration
90-6-104. General powers of the board
90-6-105. Meetings and acts of the board
90-6-107. Deposit and expenditure of funds
90-6-108. Financing programs of the board
90-6-109. Procedure prior to financing of housing developments
90-6-110. Supervision of housing sponsors
90-6-112. Provision of bond resolutions
90-6-115. Purchase of notes and bonds -- cancellation
90-6-117. Negotiability of bonds
90-6-118. Signatures of board members
90-6-119. Reserve funds and appropriations
90-6-120. Maintenance of capital reserve account
90-6-121. Refunding obligations -- issuance
90-6-122. Refunding obligations -- sale
90-6-123. Credit of state not pledged
90-6-125. Tax exemption of bonds
90-6-127. Allocation of state limit
90-6-128. through 90-6-130 reserved
90-6-131. Legislative declaration
90-6-133. Housing Montana fund -- administration
90-6-135. Coordination with other programs
90-6-136. Administrative rules
90-6-137. Alternate funding source for housing loans -- use of coal tax trust fund money