Texas Education Code 53B.37 – Junior Lien Bonds; Parity Bonds
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Terms Used In Texas Education Code 53B.37
- Lien: A claim against real or personal property in satisfaction of a debt.
Bonds constituting a junior lien on the net revenue or properties may be issued unless prohibited by the bond resolution or trust indenture. Parity bonds may be issued under conditions specified in the bond resolution or trust indenture.