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1988-07-08 Resolution 10
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1988-07-08 Resolution 10
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7/17/2008 1:02:40 PM
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7/17/2008 1:02:36 PM
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Sec. 3.07. 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 />
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