Proceeds of bonds or notes, investment earnings on those proceeds, or other money pledged by the bridge authority and then received by the bridge authority or its trustee or fiduciary is immediately subject to the lien of the pledge without any further act, and the lien of the pledge is binding against all parties having claims of any kind in tort, contract, or otherwise against the bridge authority, regardless of whether the parties have notice of the lien. A resolution, trust agreement, or any other instrument that creates a pledge is required to be filed or recorded only in the records of the bridge authority.As added by P.L.185-2018, SEC.27.
Indiana Legal Code