Section 5-1168 - Lien of pledgeA. Any pledge made under this article is valid and binding from the time when the pledge is made.B. The monies pledged to the holders of the bonds and received by the authority for placement in the debt service account are immediately subject to the lien of the pledge without any further act. Any lien of any pledge is valid and binding against all parties who have claims of any kind against the authority, regardless of whether the parties have notice of the lien. The official resolution or any instrument by which this pledge is created, when adopted by the authority board, 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.If a majority of the qualified electors voting on the issue in the first election held pursuant to section 5-1103, Arizona Revised Statutes, as added by this act, reject the levy of taxes and issuance of bonds for the purposes of establishing a sports authority district, title 5, chapter 9, Arizona Revised Statutes, as added by this act, is repealed.