Sec. 264.046. JUNIOR LIEN BONDS; PARITY BONDS. (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.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
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