ORNETC GENERAL 

Honorable Wm. J.~Uve~On 

SecPetsv,,of state 

Austlnj Texas 

Dear Sir: 

Opinion No. O-3330 

Re: Construction of Article 

7084, V.A.C.S. as 

amended by the 47th Leg., 

Regular Session. 

We acknowledge receipt of our’ request for an opinion 

on whether or not under Artlele 708 1 Vernon's Annotated Civil 

Statutes, as amended by the 47th Legislature, Regular Session, 

you may assess the franchise tax on notes, bonds and debentures 

that mature in less than a year but are outstanding more than a 

year from date of inception and have not been renewed or extended. 

The above article reads in part as follows: 

* . . . All such Instruments vhich bear a maturity 

date of less than one year from date of iaaue but 

which represent Indebtedness which has remained outstanding for a period of one year or more from date 

of inception, but which have been renewed or extended, 

or refinanced bgthe ifsuance of other evidences of. 

the indebtedness. . . (Italics ours) 

A court will not assume to construe or interpret a 

statute if there is no necessity for it to do SO. Larkln v. 

Pruett Lumber Company, 209 S.W. 443. Ror is a court privileged 

to interpolate vords, to add or eliminate provisions, or to enlarge, extend or restrict the scope of a law, except as this may 

be necessary to effectuate the legislative intent. 39 Tex. 

Jur. 89. 

"The word 'but' (as used in the amendment) is an appropriate term to indicate the intention of those who use it to limit 

or restrain the sense or effect of something that has been said, 

or to Indicate a proviso, condition, qualiflcatlon or exbeptlon." 

i;ion Bargain Trust Co. vs. Bulldin Securities Corp., 273 H. W. 

. (Parenthetical InsCrtion ours 
Hon. Wm. J. Lawson, page 2 (o-3330) 

Prior to the am&&meat here under Consideration, the 

tax was calculated upon bonds, notes and debenturee other than 

those maturing less than a year from the date of Isaac. It is 

apparent from a reading of ~the amendment that the leglslatlve intent was to include, other bonds, notes and debentures. The 

amendment says in plain anQ unmistakable vords that there shall 

be included those bonds, notes and debeatnrer maturing In less 

than a year provided they have remained outstanding a year or 

more from the date of inception and further provided that they 

have been reneved, extended or re-financed by the issuance of 

other evidences of indebtedness. 

Yen are, therefore, advised that you may not include in 

the supplemental report those notes, bonds and debentures which 

are’issued for a period of less than one year from the date of 

Issue, and which represent indebtedness which has been in 

existence for a period of one year or more from the date of inception of the indebtedness, but which have not been renewed or 

extended, or re-fbanced by the Issuance of ser evidences of 

the indebtedness. 

Tpgsting that the foregoing fully ansvers your inquiry, 

we are 

Very truly yours 

ATTORltEY GEIIWAL OF TEXAS 

APPROVED JUL 18, 1941 

/s/ Grover Seller6 

First Asslstaat 

Attorney Beneral 

RHC:X?:B 

By Richard H. Cooke /a/ 

Richard H. Cocke 

Assietant 

APPROVED 

Opinion 

Committee 

BY BWB 

Chairman