The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-06-21
HOW TO RAISE MONEY.
THE COUNTY MAY ISSUE INTEREST
BEARING MAHR ANTS,
Hut Cam Not Issue Its Vote ns Il
Rast~ for Raising Moncy-uptnton
10y County Attorney Nnsmcc.

Harris county on a small scale is as soid
financially as the bank Of England but
even ,h, most solid institution some times
run. aEatust enerseacl,s. such was the case
: few DAYS aeo when he county was called
upon TO pay something II The helsheoF-
hood OF s7U.o Tor the recently completed
Green's bayou bridge. While every one
knows that it woula not emairsas Harris
county to pay $1,000. yet Wien this d.
lnand had 20 be met it was discovered that
to pay the $1,000 IA cash GU o; The SPECIAL
fund and The oulY ippd from WHICH the
money could De taken would take nearly
all The money cut of ,hA: particular fund,
leaving but luce 20 meet o'her curven.
expenses IL road aud bridge WORK, TO avoid
which contingency they asked an opinion
igcm County Attorney Nasner as 10 tne
arhts Of lie county 70 raise funds b. the
Issuance OK in-eres, bearing warrants.
sir Naaaei $ o.HalOn upon the suuJett
was su5!a.;t-i Is follows:
u the II lo-able Commissioners Court:
You rtuLtst 81 me . writt.a CpiuloL as
10 's4h, Ser or not Your honorable court
-sR .oifuo FUNDS 20 carry 81 the county
government and wne hEr or no you have
the uuWcr 20 issue interest bearing war
rants IL uay.aent % ella us against the
colutv. also wha1 ra.e ol interest YOU are
authorized 10 allow u sad warrants, II
ANY,.
you are advised:
THAI county is a political subdivision
O. ;le STATE. and may lie said TO act IS a
CORPORATION wth specific powers. through
It's officers a agents. whose duties are not
only uotnted out by iaW. but the mode Of
performing them laid down with accuracy
and precision tAm- and Eng Enc. Of
Law. 4. 3ia- c.iiuG j l7ti. 0oa
Ch5utrr title -. Revised Statutes. con-
tAlus the onIy authorization hy law for
DE borrowing Of murey by q county aud
nutcs a-e not cautampia.ed In said chapter
and ltle. Tie power here granted Is 10
issue bands for spreiac purposes therein
named AMI tAe Euit Of interest is per
cent NV cpinioa is that you have no au-
inoriv under III, iaw to Issue notes Tor Tbs
uurlose uf raising money 10 pay The eN-
tcnscs OF The county government
AS 20 iAe question whether u would ae
lawful 70 issue warrants bearing interest,
advise: That there is no question about
thc unwer q the county 20 issue vouchers
bearing interest after their date. provided
that said vouchers are issued for a valid
and subSlsIug debt and bear interest at
a tHod rate, for the forbeaFanee or reten-
ton OF money In the case of Ashe vs..
Harris County. reported in the 55th Texas.
[
Interest would be allowed upon county
Warrants. or vouchers. unless they showed
/ upou thtir f2ca that interest was payable
Oh same. but diG not pass upon the ques-
ton Of power in The missinners court
I 10 issue interest bearing warrants, but In
! later case-San patrlcio County VS.. John
McClanc. - Texas. 243-ths same court
/ SAYS: 1T "a claimed that the county court
/ hai uo power to issue interest bearing
! warrants. We are of the opinion that this
proposition can not hc maintained. The
county court had power to provide court
HOUSES. tails and all necessary public
buildings, and 20 allow and settle all coun-
/ ~ accounts, aud direct their payment in
I such manner and al such times as may
/ meet The public interest - Pas u. l229.
| This power thus expressly given would
/ seem broad enough TO authorize the county
court 10 contract to pay interest upon its
1 indebtedness. incurred in an Improvement
/ II was expressly authorized 20 make"
/ The power lodged In the commissioners
! court hv law at The time this decision was
! rendered Is practically the same as the
sewer lodged hv tho law under which we
are acting today. end what was Within the
Bower OF he court to legally do then, can
be as legally done now
In tho case Of Davis VS. Burncy, IS
Texas 3ti 1t IS also held that the com
missiontrs have the power TO pay interest
In uroDcr cases
As 20 the rate Of interest which van
would he authorized to allow on interest
bearing warrants IN view OF the fact that
the le-al rate is per cent in this state
ana the further fact that in the issuance
OF bonds by counties the maximum rate
allowed Is pcr cent, am of the opinion
that u would be improper to ALLOW larger
ratio Than Der cent. All OF which | re-
speetfuily submit
r. II. Nasmer,
Attorney for Harris County
I'he suggestion TO issue these warrants
was not fayorahly received by the repre-
sentative of the bridge company, who said
i was Understood by his people tbas n ,vas