The Laws of Texas, 1929-1931 [Volume 27] Page: 722 of 1,943
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276 GENERAL LAWS.
prevent or relieve a default or an impending default in the payment
of principal or interest.
SEC. 8. It is hereby made the duty of all Commissioners'
Courts and of all governing bodies, as the case may be, to levy,
and have assessed and collected, taxes sufficient to pay the interest
as it accrues and the principal as it matures on all bonds
and time warrants issued in accordance with the provisions of
this Act. The same duties in reference to the levying, assessment
and collection of taxes, as are imposed by the provisions of
Chapters 1 and 2, of Title 22, Revised Civil Statutes of 1925, to
assure the payment of taxes on bonds therein authorized, are
imposed on said Commissioners' Courts and said governing
bodies in reference to all bonds and time warrants issued in
accordance with this Act.
SEC. 8a. Provided any city or town which has theretofore
issued bonds, warrants, certificates, or other securities payable
from revenues and income of any utility or utilities owned by
such city or town may fund, refund, or extend such bonds, warrants,
certificates or other securities, without the necessity of
complying with the referendum provisions hereof, provided
such refunding does not increase the amount of such indebtedness,
taking into consideration interest adjustments; provided,
however, that no such bonds, warrants, certificates, or other
securities payable from revenues, or from the income of any
utility, which may be funded, refunded or extended by a city
or town, shall ever be made a charge upon moneys raised or to
be raised by taxation.
SEC. 9. Any warrant bond, funding bond, refunding bond or
other evidence of debt or obligation created, or attempted to be
created, by the County Commissioners' Court of any County,
or the governing body of any city in this State, in violation of
or contrary to the provisions of this Act, shall be void, and the
payment thereof may be enjoined by any taxpaying citizen of
such county, or any taxpaying citizen of such city, in any court
of competent jurisdiction in such county.
Provided, however, that notwithstanding anything contained
in this Act, Articles 709 to 715, inclusive, of the Revised Statutes
of Texas for 1925, shall apply with full force and effect to
all bonds, funding bonds and refunding bonds issued under this
Act.
SEC. 10. In all cities operating under Special Charter the
provisions of this Act shall apply, providing for a referendum
vote where the proposed expenditure is not payable out of current
funds, or bond funds, and requires the issuance of time
warrants in excess of the permitted amount. This Act shall
not repeal provisions of Special Charters providing any additional
rights to referendum elections. The rights, power and
duties conferred on and imposed on all cities in reference to the
issuance of funding or refunding bonds and warrants shall be
applicable to all cities, irrespective of charter provisions to the
contrary. All laws, General and Special, and parts of laws in
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1929-1931 [Volume 27], book, 1931; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth16362/m1/722/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .