Texas Local Government Code 293.052 – Junior Lien Bonds; Parity Bonds
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(a) The authority may issue bonds constituting a junior lien on net revenues or property of the authority unless prohibited by the bond resolution or trust indenture.
(b) The authority may issue parity bonds under conditions specified in the bond resolution or trust indenture.
Terms Used In Texas Local Government Code 293.052
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: means real and personal property. See Texas Government Code 311.005