(This Section scheduled to be repealed in accordance with 105 ILCS 5/1E-165)
105 words·~1 min read·
/il/chapter-105/act-5/105-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(This Section scheduled to be repealed in accordance with 105 ILCS 5/1E-165)
Sec. 1E-110. Statutory lien. Any pledge, assignment, lien, or security interest for the benefit of the holders of Bonds or bond anticipation notes, if any, created pursuant to this Article are valid and binding from the time the Bonds are issued, without any physical delivery or further act, and are valid and binding as against and prior to any claims of all other parties having claims of any kind in tort, contract, or otherwise against the State, the Authority, the district, or any other person, irrespective of whether the other parties have notice.