Any pledge of Revenues or other moneys or assets pursuant to this Article XV shall be valid and binding from the time such pledge is made. Revenues, moneys, and assets so pledged and thereafter received by the City 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 City, irrespective of whether such parties have notice thereof. Neither the ordinance, nor any indenture by which a pledge is created need be filed or recorded except in the records of the Clerk of the Board of Supervisors.
(Added by Ord. 211-24, File No. 240726, App. 8/1/2024, Eff. 9/1/2024)