**OFFICE OF**  **THE ATTORNEY**  **GENERAL OF**  **TEXAS**
**AUSTIN**

~03mwble Chsrley Lo&hart state Trefiwrer Anatin, Teurs Dear Sir8

you advlae w of Pea08 8ndMorthern

lrrned under MlQe.EturdFed

order to have tJ3eflret **mort** 80oQunt1ea in vhlah 1t ha8 reaorded, and In order to have oment reamled in all of the mmnthe rallvay of The Fsqos **and**

the mortgeeCeor the EZtewlon Agreement.

“2. If it 18neoeararp to sttwh outh rteaps, vhether the ahotid be abtaahed, ealaulated 00.the baa18 of $l~,QOQ,OW3,00 0%'$11,984,000.90.

. . r*

5Honorable Harley Lockhart, **Page** 2

Article 70470, **Seotlon** (a), Vernon*8 Annotated Civil Statutea, read8 ae followr

“meept ae herein othervlee provided there le hereby levied and aeeereed a tax of Ten (lO#) Cente on **eaoh** OneHundred ($100.00) Dollar8 **or** fraotlon thereof, over the flret TwoHundred ($200.00) Dollare, on all note8 and obligation8 eeoured by ohattel mortgage, **deed of**  trust, mehanle’e lien, aontraot, vendor’e lien, oonditlonal aalee oontraot andalllnetrumente of a rlmllar nature wh&nhare filed or reaorde4 in the offloe of the County Clerk under the Regletratlon Law8of thle State; provided that no tax ehall be levied on lnetrumente eecuM.ng anamonut of TwoHundred (4200.00) Dollare, **or** leer. **After** the effeotlve date of thle Aat, except ae **hereWafter** provided, no 

### l uehinstrument &all **be** filed or recorded by any County Clerk in We State until there hoe been affixed to ewh lnetrusent rtampe in aaoordanue vlth the provlrionr of thle seotion; providing **further** ,that ehould the lnetruwnt filed ln the ctiilae of the County Clerk be security of an obligation that bar propelrty pledged aa eeourlty in **a** State or Starter other than Texas, the tsx hall be baaed uponthe roamnable eseh value of all property pledged in Texae in the proportion that **raid** property in Texau beare to the total value of the property 

### l ecmrlng the obligation@; and, providing further that, exoept ae to renevsle or extension8 of merued intereet, the provleions of this eeotion ahell not apply to inatrumerite given in 

### renewalop extenelonr of lnetruments theretofore rtamped under the provlelone of this A& or the one amendedhereby, and ehall not apply to lnetrumente glren in the refundlug of exletlng bondrOF**obllgatlone** them the preceding lnetrumnt of reourlty wae stamped in awordauee with **thie** Aot 

### orthe one amended hereby8 provided further that the ter levied in this A& ahall apply to only one instrument, the one of the greatert denomLuatlon, vhere 8everal lzutrumenta are aontemportmeouely exeouted to eeuure one obligationi andprovided further that vhen **owe** 

### l tampedaa provided herein, au lnetrwnent **may**begonorsble Charley Lockhart, Pege 3

raoorded in anynumberof oountlee In **thla** atate vlthout agein being eo atamped. Thte **aeotlon** ehall not appl to **lnetrum4nt8, notee,**  **or other**  obligatlone td

### en**by or**  

### onbehalf of the United State8 orof the State of Texas, **or any**  **aorporste agency**  or **inatrumnt8Uty** of the United gtatee, or of the State of Texas ln carrying out agovernamntal purpose 88 upreaeed In anyAat 

### ofthe Congreee of the Untted State8 or of the Leglelatae of the State of Texae, nor ehall the provll lonn of this De&ion apply to cbllgatlans or lnetmmente eeaured by lien8 on orope and 

### farm OPagriaultw?al produate
, or **to** llveetook or farm lmplemente, 

### oranabetraat of judgment,

‘If the awmnt eeoured by an lnatrument la not expreeaed therein, or If anypart of the eeourlty deeorlbed in any ruoh inetrument appearr to be loaated without the State of Texas, the County Clerk &all require proof by wrftten affldavlta of mwh faotr M maybe **neIusceaeary to**  **deter** nine the amountofthetax due.” Proma reading of the above atatute it 18 aeen that the tu ie not due until and

### wlera the imtrummt 

### of l eourlty $8preeented for rebox-d. TheA& further readr that exoept na provided therein no mab inatruaent ehall be tiled for reoold until it ha8 been etamped ln aoowdanae with the 

### prov&alow of the ht. go exeeptlon la madeee to lnetrumenta **dated** prior **to** the effective date of the l **tatute.** The tax levied by thla Aot ie laid uponthe privilege of wing the reaorde of the offloe of the Oonnty Olerk. 

### 654. **City** of Abllene 'I. Fryar, 143 8. W. (26)

lienae ln maropinion It la imaterial that the flret lmtrument uee exeauted long prior to the effeotlve date of Art1810 70470. If it ie nov offered to a Qounty Clerk forreoord it met be etampod Fn

### aooordanae vlth aueh etstute. If the 1907mortgage 

### la properly atampedandreo8mMd, then under the expreee terare of the etatute 

### theextenalonagreementmay be recorded thereafter in vhstever oountiea it maybe deetied vlthout having any et-8 affixed thereto.HonoratfleQrbley Lwkhart, Pago 4

The origkl aor+gage did not eeoure obllgatlona amount-



### - toFifteenMlllion Dollsre (~15,000,000.00) but mer4ly aeoured an

### authorlaedbond lesue of not exoeedlng Blfteen Hllllon Doll4re (~15,000,000.00). The fret that bonda in th4 amountof Eleven Hllllon 

### Iline

HundredandEighty-four -wand Dollar8 ($11,98&,000) only were ieeued a that auoh la the amwnt etll3 **unpaid** ia8~r be ahom to ths Olerk by affidavit, md in auoh event the amount ai rtampa to be l

tta4hed should be oeloulated on the b&818of Eleven IU1llo.n Hf.zm#nndredand Rlghty-four Thousand Dollara 

### (&l,g84,ooo.oo). Pour8

### verytruly A2J!P~OE)IERALoRTExAs
By k.-.--dcfflenn R. Zml*

Aaeletant