**2 ’** 

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**. ‘** 

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.-**b** 

### Ponocable Jeeme James - p8ge $I .

cuch **iibtitwuent h-utid,**  

### an are retdived by tha TrO.Es~ Of the a6ht **Or f-6,**  **did1 bd**  **imastad in**  **bode of**  **the Unit-d**  StatO8, **the state**  **of Teue,**  **or cautltioa**  **or aitfos**  

### of this state, or in bosh laat104 by UQ agency ef the uaLtod Oktee uovortmont, 

### tho pqaum~ of the prinolpml l 

### f uld lntsroat 

### un whloh ie gttaratxtoad by the UttltOU 

### 8totoo; 6 + 0.. Artio1a 2922-l* seiition%,-of Vernon*~ Civil n*tutes, doelrrer,:



### L aliLl“41 tho rwota of the Uetlremant



## oyrta mlmllbo 

## arodlto4 reuonling to t&o )urpom6 

### SOr Vhiah thg 90 held t0 006 (if... ot sow8 (T) tam&@,' tbutoly,

tab 

### Ttmah6r-88vhg mud, the atate siombehhlp 

### Aaamulatlon matar thoka~b6r6Mplnardff~66~6~,th6~6t'- 86rvloo Anatdty R68ervO Tim& the 

### xntor68t~~. 8ttud,th6F6TMtl6ttt~6t~ntad,ra(lth6- =Py-'3t"9~' : . . .._ :



### w?li I8ter66t mtkt&er.h6i*?ty aroatdbto eaoilitate as ol-aaa~ (d 

### Lpcam8t to 

## tlio **v- otmr** **futh*** ~Ulin66n,'lnaw6t ad alvla0na.s

aorlvea from the aepoelt* 

### ama wo6tmmkt8 uttlmrlradbj tM8 Act 

### am11 -wJ. pal4 Let-0the Iato+ot 

### Vu&. Owe a&- year on Augttotalst. lntorost 

### 6baub6 611666a: an8 

### tratlstorrdto the other fata, re8jmotively . rho state iam3 aC Tmrtm dial1 emtUt6l~tF666t6rtO @AS 

### O-tot theint6Fert rtmervo aeuaaat of tho shwsnnent Rotlrorent Stub2 811 osaoa8 qrttlqp 

# ritor ltttsro~t

### r b6u'imgtrudil.6a&tb6-p6fmOlhndh6v6b66m.. dalf atwitod eith 1tlt6r60t For tltr

year fia ttio mas+r prariaed io ala-Icrt.9

# 2.. 227

**&xbdi.~Ision (1)**  **of Gection**  **7 of**  **the Teacha** **’ no**  **tixW!a%t sy8terP**  **ACta aS**  **8Eeaddl by**  **the 47th**  **Legh ’** **lrtUro,** .Bqgllar stsa1oa (lsll), General L*us* p. 018, rouxa 8s fol

### 108mr
*The State Lioud OS **Sl ’** **USt608** 

### t&all be the 

### trustees or the rawal tm6s aa herein at-sated by thto Aat, and *ball lwe fall power to lnvest 

### md relmeot stwh rude **subject** 

### to the folloui* iindtatione and rostrictionclt Au retire- %. ment fuuds, as are reaeived ..Pythe Tmmoury Of **the** State **of Texas**  **from cond&utioru**  **of teaah**  erm anb anployera as herain provided, may be investal only in bonds ot the tiulted States, tho sit&o or 

### Toxa8, or countloa, or citieo, 

### or salu~ol distriats 

### of t&&s 

### bkto, vh6min s&l 

### L.. aount+os, or dtlos, 

### or sebool 4isWats hsro 

## mot dehultsd in **pl ’** **iaSlp61 6r**  **ittfsreot 6~**  

### betUs **wkthltt** a **p6rUtl** 

### of tsq, **<ie) pars,**  or **In liotulo**  **iuu6& by**  **atq 8#mey**  **6? the**  **Unlteb** 

### Stateo Gavet'a**mont, the**  

## payment **of tho,.pruclp8l**  **ad ittter~f**  66Whiahi8&66rsat6s6by 

### thoUn%tsb8ktaa;.udl stl

## -ipfereJ8t-~ not60 

### or bon& OS the mTOt’O%XtyOf YW iSM6& tlad6F 8d bf riFtU6 6f.’ 

### Ch8pfsr’ 43, Lot0 of tbo Wrtf’-thM 

### tegfslatwe,. moata oalleeSeeriam~ptwldea thati r'rutt%~4mt : ~boiui.di'wh8h~lbeMpfenhdto~ w. tho l.msoal*ti 

### pBp6tlt'~ot tho amount* that ~J.ueoooedoaO~y~ir’~~iatMsIpf.’

TO .ptod PO ~hd&tUt.iOtlS~ P'CbWQtlq th0 &O&818- but-0may not ensat suoh &oueral #tdOtl, ua .e%tIoothe 

### UlthQgty there. OonForrad 60 weat aa relJlT6ot t!tMh ftim66 :Ot’6&tOd* by 

### that,Aat, OIL0 Otubb’Sh is t&6 %ttt~te+k~

, is our ep+mion.yeur qqatlemdeu~~be.mauer

::

_’