JUNIOR LIEN BONDS; PARITY BONDS
Known as the County Building Authority Act
The act spans §§ 293.001 to 293.056 (24 sections).
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff
(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.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.