Glossary of Municipal Securities Terms


AnĀ issue of bonds having a lien on the same revenues or otherĀ security pledged to outstanding bonds. Additional bonds may be issued on a parity with the outstanding bonds, although in some cases additional bonds may have either a junior lien or a senior lien on pledged revenues or other security. Additional bonds are generally issued under the same bond contract. See: JUNIOR LIEN BONDS; OUTSTANDING BONDS; PARITY BONDS; PLEDGED REVENUES; SENIOR LIEN BONDS.

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