Section 1048-L. Pledge effective without filing or recording

Any provision
  of the uniform commercial code  to  the  contrary  notwithstanding,  any
  pledge  of  or  other  security  interest  in revenues or other personal
  property made or created by the authority, the water board or  the  city
  pursuant to this title shall be valid, binding and perfected against all
  parties having claims of any kind in tort, contract or otherwise against
  the  authority,  the  water  board  or  the  city,  as  the case may be,
  irrespective of whether or not such  parties  have  notice  thereof.  No
  instrument  by which such pledge or security interest is created nor any
  financing statement need be recorded or filed.