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**OFFICE OF**  **THE Al7ORNEY**  **GENERAL OF**  **TEXAS AUSTl** **N**

**QROVER SELLERS**  ***+TORNLI QLNLRAL** . . 

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**id1010 **780-b** Thet where **a aajorlty**  **ot** therasldant property tarpay4r8, king qualltled l lo oto rs

of anyooanty, rot- onthe progoaltlon, h~~tlag rots4 **at** an l loctlon ha14 in auoh oountl oalled **by** tha **ooadoaionara oourt**  **of** such OOUnty,in favor Ofthe laauan~a oi the **bond8 of**  suoh oounty for anypurpose authorloed in chapter 1, Tltlo l6, R~vla~ Clrll Utatutas of 19911,
orChoptor 8, Title U, Ratlna4 clrll Gtatuter of 1955, the oanvsss or such tots rwaallo~ **suoh** mtjorlty, haring baao raoordod ln theailnutaa or suoh eomalsalonars **oourt,** andwherr tha ordor of **8aid OOWlS8iOnOr8**  Ciourtoalliag suoh bondalaotlon, and thenot&as of auoh

### b ond l leotlon, provided that such bonds wereto be I4auab by suoh ooiamiaalonars oourt, payabls aarlall~ or othor*laa, not 4~0*04ing the aaxl!aumperiod of tluia atlpulatad ln sueh **rlrotfors order**  andoleotlon notlaos, andwhom therrafter aald oo~ssloners oourt of suoh aounty, **b7**orders adoptad

. andraoor4a4 in its ainutas, ooatraotod r0r tha solo oi raid bonds at not lora than parand aa**orurd** latereat, **an4 ~uthorlmd**  th4 lasuana4 or add bonds in aooordanoa vlth tho term aa prorlslons of mob oontraot OSaalo, pesccrlbl&q,is l

uohorder8 the data oi aald bonds, **the** mturltles of a014 bonds, andthe **rate** of lntoraat **said** bonds are to bow, au4 lovying the tar to pay the lntareat on aald bon48 an4 pro**rldo** a sinking fund sufflolant to pay the prlaolgal theroor at maturltt, and#al6 bonds wars ap**proreQ** bl **tbr Attorary**  **Wner8l 8nd** roglater4d by tea Comptroller of Pub110 kooounts and **wore** tbare**aftor** sold at **a** ml04 of not 14013than pclr.an4 aooruod intersat, saoki ruoh elaotlon and all act8

**0116** procaedlngs had &adtoiranis oonneotlon thcrawith by l

uohooutity oomlaalonors **oourt** la roapeot of **raid** bonda, **the** d&to Of aald bonda, tbs aatmlty dataa of sold bonds, tha lntorsot thereon, and the **lavy of**  **tares in**  **poynent thereor,**  fira hereby aggr~vad, confiraeci, ratlflrd, legallsad end rulld- ,,ted; and raid bonds, and tha oou~~na **4Vld4nOlW** the interrat thorBOA la and for eaoh of the Year0 

### l tlpulatad la auoh raoorded orders, ara herabr oooatituted the valid and aubalrrtlng obllgatioo8 of atioh **oounty,** and sold bond8 an4 ooupons shell b payable or radasmbla only OIItha =tUitY or **rraeaption** deteo atlpulated in auoh reoorded **ordera and**  in the rvoe of etrohof said **bond8 end**  **ooupons**

**. ’** .

“‘artlo& 780-b. That rhero tha oommlarIonsrr OOUCt Of @w OOUItl bar hU@d tbr bO&OOfl UOh OOUfitj

**iOr** th **JBUr~OOO Of**  **iUli41fU3, XWfU5di56,**  **OM tMl1106**  and in 1l.U of any bond8 of l uoh Oounty 1ogaU.y Iaaua4 ior oarjwpoar l athorIza4 in Chapter **1** Title **18, 6avlaod**  Civil **Statutoa oi**  1911, or beptar 2, Title 22, #orIs Clvll **St&u-~** tea **0r l985,**  auf,~316ruP4in~or **rtiundiug bonda** 
**were duly**  l

**ppro~od by**  **tbo** titbornoy Oenoral l

**nQ** regIetera4 by the Coaagtrliar o? Pub110 hooounts In 8ooorQnoo with the lowr l pplIoablo to the Iaauanc~ **oi** rrfundlngi **bonds, the**  or4er**or** orbarr of ouoh oomala~ionsra oourt l pprovln8 the oontraot between **ouch** oounty an4 the holdar or holder8 oi
**OU0h OUt8tCd~&**  **bmda iOr**  tbr **pur&V36. Or**  **flMbill(L** or rofundlng ouoh outatandin& **bon40, proooriblxq**  the d&e of aaI4 funding orrrtundlt@ bondr, the 2bturity dater 0r **~14** rmdi56 or refuntllng bonda, the rate ot intrraat aaid fu.u&,lagorrafundlng **bon40** wereto boa and~wyin& sixi ta to pep lntoraat OIL

l ald fun4144 or nrumUn$ bond8 an4 **to produaa**  a alnklngfundl usflolanttopaytb prinolpal therrof et mturlty, herIn& boon rccordad in tha tinutea or raosrda oi woh county oomiaaionara **oourt, all**  **act8 an4**  prooaa4Iu&a had an4 done In omnaotlon tharevlth by auoh oouaty ooainIaalonora court, an4 the ooarity Judge, oounty clerk, oounty trebauror, or any other oounty offloial hsvlng any **4utls8 to**  **parform in**  reapact **to** th6 **i~aueaor 0r**  **aal** iding or **rrtundi56** bond8 afa horrby apprOv84, ooaflrnmd, ratified, la~al~tad en4 validata4; cradl alb **funding** or ratPndI.ng bond8, ~4 tha coupon8 avIdenclng tho interest thereon In rod for enoh or the yraia l tlpuleta4 In l

uohre**corded**orderororbra, es8 baraby oonetltutod the velid an4 8ub8leting oblI~tlon8 of such WUnty, ln accardanoa rlth the tarma end jwovislono of auot rocordad order or ordera, and eel4 inndin& orrefunding b.xida end ooupona tiitirato appertaining shell Lapayable or ra4eo.sibls only on the s!ituritg or redeaptlon dvteo atipul~tad in such IYcorda order or orders an4 **15 tha**  **fuoa Of**  **aaoh Of**  **a;,id** runding or rofundlog bond8 and 00uPone.’

*t l l.**f**

**@morrible** Cbel L. Xonlieter, pago4

It ia tha opinion oi tbla dopertaunt that Srotloo 1 of **Hour*** 0111 115 **la** oonatItutIonal. Thejuprm8 Court of Texas in Coohran County **V.** Mann, 198 S. Yu.(Zd) 589 andNorton v. Tom **CM) 849**  (writ **0r error**  **re?uaod) heJl4**  of Chapter **2, Tit10**  **22, Ha+Isa~**  Civil **statute8** of 1925, and Chapter 1, Tltl~ 3.8, havlaad Civil Stotutea, of lQll, the oounty oommIarioaera @oourt ha4 the right to redoem tha bonda l

uthorlzad under aal4 l **tatuto at**  **any**tlrm after said bonds ha4 **bran** Iaautd SW a ;IerIOf oi flvr years, prorIds no option wlaaraaerva6; an4 It aa option was **r*aerved,** the oounty h&dthe rl&ht **to** redoam, tinder any oiroumdtanoea, after a period of 

### ten years.

The **Suprosa Court,**  la 

### l fteot, held that **tba outstand**  **ing** bon48 **authorieod** by raid atatut~a **zero** bIu4lw aontraata an4 t&t **the** right **of** redemption was **a** part **of** 8814 **oontraot.**

The suupramaCourt in Dalloa County v. LOokbart, Stott
‘Treasurer, **96 8.**  **D. (lid)**  **60,65, be14**  **that** tha Ight of redamptIon byrefunding was l valuable rlgt an4 not rubjtot to b@dareate **by** a bondholder.

Saotion be **0r** Art1010 5 of the Conatltutloa 0r **Tgxsa,** reads, in part, 68 **follower**

.Tha kt~Ialatwa shall huvo no power **to** authorlu ay county, city, town **or** politloal **oorpora** tlon or aubdlvlaIon of the State to lend **its** oredlt
or to grant pub110taonay**or** a thln& Oi ?al~a la al6 of, or **to** any Individual, l asoolatlon or oorporatian whatsoever. l ’ lI Conalderlng as14 oonstltutlonpl provlalon in oonJux tl m with the reterrod to authorities, it **IO** the opinion Or this de?tirt3ent th3t jeotlon &0rl rrldkot la unoonatItutlo5ul, imofer da it citteapta to change the oontraot between the oountiaa and t!Ie bondhuld~era. TheAot would confer **“ a**  thing of value” on the bondholders vclthout h rbtiproo01 Zontrol DIatrlot v. Eaann ~cz~a); T. AY. 0 **713, (Coo.**  **app.); halby**  **County** T. Provident
**CO**., 35r‘ed. (Zd) 608 606,(mrIt of oortorari refused) HowardT. Henderroa Ckaty., See 6180 ?udad); **hods8** urllllr~ C, Al6 i+. YI. **(24) 479,**  (writ'or error re**alma, 70**  **s. K.**  **(24) 8769**  ~0.~4 Llstrict No. 4, Shelby Cott:: v, ,,Urcd. C&S.Pi.(Zd) la;.-. .

Thsrv are other rerlour aonrtltutlonal quortlonr

**rai#ed br**  the prmirlonr OrSeotlon a oi **8Oid Bou88**  Bill 113,
**but W**  **d0** Oot **d,m tt**  **IkO0088lbr~** t0 di8OU88 **tb&** in V!ieU Of **th** &0r. **holdbsl(t.**



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