NRS539.638. Liens.

Latest version.

      1. Revenues pledged for the payment of any bonds, as received by or otherwise credited to the district, are immediately subject to the lien of each pledge without any physical delivery thereof, any filing or further act.

      2. The lien of each such pledge and the obligation to perform the contractual provisions made in the authorizing resolution or other instrument appertaining thereto has priority over any or all other obligations and liabilities of the district, except as otherwise provided in this chapter or in the resolution or other instrument, and subject to any prior pledges and liens.

      3. The lien of each such pledge is valid and binding as against all persons having claims of any kind in tort, contract or otherwise against the district whether or not those persons have notice thereof.

(Added to NRS by 1985, 2057)

                    
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