14-1714.

Bonds; pledging of revenue; lien.

Any pledge of revenue or other money of the authority made by the authority, in accordance with the Parking Authority Law, shall be valid and binding from the time when such pledge is made, and the revenue or other money so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any further act. The lien of any such pledge shall be valid and binding as against all parties having claims of any kind, sort, contract, or otherwise against the authority, irrespective of whether or not such parties have notice of such pledge. Neither the resolution nor any other instrument by which a pledge is created need be recorded.