(a) Bonds constituting a junior lien on the revenues or properties may be issued unless prohibited by the bond resolution or the trust indenture.
(b) Parity bonds may be issued under conditions specified by the bond resolution or trust indenture.
Tex. Health & Safety Code § 264.046
JUNIOR LIEN BONDS; PARITY BONDS
Known as the County Hospital Authority Act
The act spans §§ 264–264 (35 sections).
Acts 1989, 71st Leg., ch. 678, 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.