<?xml version='1.0' encoding='utf-8'?>
<section article="ghs" article_name="Housing and Community Development" number="4-248" title_number="4" title_name="Division of Development Finance" subtitle_number="2" subtitle_name="Community Development Administration">
  <level label="a">
    <level label="1">
      <text>The interest rate or rates on and the terms of any loans and the revenues from the terms of any other assets that are financed from the proceeds of bonds or notes of the Administration, any fees that the Administration charges, and any other available revenues shall be at least sufficient to ensure repayment in full of the principal of and interest on the bonds or notes as and when due.</text>
    </level>
    <level label="2">
      <text>Any pledge that the Administration makes is valid and binding from the time the pledge is made.</text>
    </level>
  </level>
  <level label="b">
    <text>The lien of the pledge:</text>
    <level label="1">
      <text>immediately attaches, without any physical delivery or further act, to revenues or property so pledged and later received by the Administration; and</text>
    </level>
    <level label="2">
      <text>is valid and binding against each person having a claim against the Administration whether or not:</text>
      <level label="i">
        <text>the person has notice of the lien of the pledge; or</text>
      </level>
      <level label="ii">
        <text>the determination or any other instrument has been recorded or filed.</text>
      </level>
    </level>
  </level>
</section>
