Lease-Back May be Secured by Revenue of the System

A lease-back shall provide that payment of obligations thereunder may be secured by a pledge of and lien upon all or any portion of the revenue of the system, subject to any parity lien created pursuant to Article 8 of this Chapter. Any such pledge and lien shall be valid and binding from the time the pledge is made. The revenue of the system pledged and thereafter received by the government or by any trustee, depository or custodian shall be deposited in a separate subaccount of the revenue account in the Solid Waste Operations Fund and shall be immediately subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise, against the government or such trustee, depository or custodian, irrespective of whether the parties have notice thereof. The instrument by which such pledge is created need not be recorded, except to the extent that such instrument conveys an interest in land or improvements thereon.