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.
Tex. Educ. Code § 53.37
JUNIOR LIEN BONDS; PARITY BONDS
Known as the Higher Education Facility Authority for Public Schools Act
The act spans §§ 53–53 (28 sections).
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.