The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Any pledge made under this article in connection with state lottery revenue bonds is valid and binding from the time the pledge is made.
B. The monies pledged and received by the state lottery revenue bond debt service fund and by the state lottery fund to be placed in the state lottery revenue bond debt service fund are immediately subject to the lien of the pledge without any future physical delivery or further act. Any lien of any pledge is valid and binding against all parties that have claims of any kind against the state, regardless of whether the parties have notice of the lien. The official resolution or trust indenture or any instrument by which this pledge is created when adopted by the director, is notice to all concerned of the creation of the pledge, and those instruments need not be recorded in any other place to perfect the pledge.