Parity Debt
Two or more issues of bonds with the same priority of claim or lien on the same underlying security and sources of repayment (i.e., revenues) for all of the bonds.
bond-basics
Subordinate Lien Bonds
Bonds having a subordinate claim on one or more Security Interests relative to the claim against such Security Interests by the holders of other Bonds, also known as “junior lien bonds.”
See Also
Senior Lien Bonds
Bonds having a priority claim on one or more security interests relative to the claim against such security interests by the holders of other bonds.
Start with the Bond Basics
Hundreds of Terms and Concepts
Preliminary Expenditures
Expenditures for a project that can be financed with proceeds of bonds without obeying the federal income tax rules relating to reimbursements, up to a limit of 20% of the proceeds of the bonds to be issued to finance the project.