The Laws of Texas, 1931-1933 [Volume 28] Page: 252 of 2,111
1 volume (multiple pagings 2,111 pages total); 25 cm.View a full description of this book.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
24 GENERAL AND SPECIAL LAWS.
maturities of any issue of eligible obligations or any part thereof
are such as to give the county or defined road district which
issued them an inequitable or disproportionate participation in
the moneys coming into the County and Road District Highway
Fund in any particular period, said Board, in its discretion, may
require said issue or any part thereof to be refunded into refunding
obligations bearing such rate of interest and having such
maturities as may be satisfactory to the Board. And if said
county or road district shall fail or refuse to effectuate such
refunding within a reasonable time to be fixed by said Board,
said obligations so required to be refunded shall cease to be
eligible for participation in said County and Road District Highway
Fund until the requirements of said Board with respect to
refunding the same shall be complied with. Provided that no
commission, bonus or premium shall be paid by any county or
road district for the refunding of such obligations and no County
Treasurer shall receive any commission for the handling of the
funds derived from the refunding of such obligations.
(j) All moneys deposited to the credit of the County and
Road District Highway Fund, with the State Treasurer, up to
September 1st, 1933, are hereby appropriated to said respective
counties and road districts, and shall be received, held, used
and applied by the State Treasurer, as Ex-Officio Treasurer of
said respective Counties and road districts, to the payment of
the principal, interest and sinking fund requirements on all eligible
obligations maturing on and from January 1st, 1933, to
September 1st, 1933. All moneys remaining in said fund after
payment of all eligible obligations maturing on and from January
1st, 1933, to September 1st, 1933, and sinking fund requirements,
are hereby appropriated to said respective counties
and road districts, and shall be received, held, used and applied
by the State Treasurer, as Ex-Officio Treasurer of said respective
counties and road districts, to the payment of principal,
interest and sinking fund requirements on all eligible obligations
maturing from September 1st, 1933, to December 31st,
1933, both inclusive. And each year thereafter until all of such
eligible obligations are fully paid, all moneys coming in to the
credit of the County and Road District Highway Fund with the
State Treasurer and all moneys remaining therein from the
previous year shall be received and held by him as Ex-Officio
Treasurer of said counties and districts, and shall be subject
to appropriation for the payment of principal, interest and sinking
fund maturing from time to time on said eligible obligations.
As payment of principal or interest becomes due upon any such
eligible obligation, the State Comptroller of Public Accounts shall
issue his warrants to the State Treasurer for the payment thereof;
and the State Treasurer shall pay same by remitting to the
bank or trust company or other place of payment designated
in the particular obligation. Such warrants shall state on their
face that the proceeds of the same are to be applied by the paying
agent to the payment of certain specified obligations or in-
Upcoming Pages
Here’s what’s next.
Search Inside
This book can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Book.
Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1931-1933 [Volume 28], book, 1933; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth17293/m1/252/: accessed May 6, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .