Laserfiche WebLink
<br />certified by <br />• Trustee, the <br />Reserve Fund <br />of. Bonds,. or <br />Trustee agre~ <br />Authority. <br />the Secretary-Treasurer and delivered to the <br />Trustee may remove funds from the Operation and <br />and the Sinking Fund to be used for the redemption <br />for the purchase of Bonds if the Authority and <br />e that purchase of Bonds would be advantageous to the <br />Sec. 3.08. A pledge of all moneys paid or deposited <br />into the Sinking Fund, and of all rentals paid pursuant to the <br />Lease other than pursuant to Section 3(b) thereof, is hereby <br />made, and the same are hereby pledged to the Trustee to secure <br />the payment of the principal and redemption price of and interest <br />on the Bonds, all to the extent herein provided. The rentals so <br />pledged and hereafter received by the Trustee or Authority, shall <br />immediately be subject to the lien of such pledge without any <br />physical delivery thereof or further act; and the lien of such <br />pledge shall be valid and binding as against all parties having <br />claims of any kind in tort, contract or otherwise against the <br />Authority, irrespective of whether such parties have notice <br />thereof. <br /> <br />-16- <br />