Colo. Rev. Stat. § 29-4-720

Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session

Section 29-4-720 - Validity of any pledge

Any pledge made by the authority shall be valid and binding from the time when the pledge is made, and any assets or revenues shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded. Nothing in this section shall be construed to prohibit the board from selling any assets subject to any such pledge, except to the extent that any such sale may be restricted by a trust agreement or resolution providing for the issuance of such bonds.

C.R.S. § 29-4-720

L. 73: p. 813, § 1. C.R.S. 1963: § 69-11-15. L. 75: Entire section amended, p. 981, § 12, effective April 9.

This section was originally numbered as § 29-4-715 in C.R.S. 1973 but was renumbered on revision in the 1977 replacement volume for ease of location.