The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1909-06-11

held for the purpose of determining
whether or not county bonds shall be
issued
Section 3. If, after the result of
said election is known. it shall ap-
pear to the commissioners court of
the county in which said election
was held that two-thirds majority of
the votes cast at such election were
in favor of the issuance of bonds, it
shall be the duty of said commits
sioners court, as soon thereafter as
practicable, to issue said bonds on
the faith and credit of said county,
or of said political subdivision or de-
fined district, now or hereafter to be
described and defined within the
state of Texas, and which may or
may not include towns, villages or
municipal corporations of the county
as the case may be. which said
nor more than forty years with such
option of redemption as may be fix
ed by the commissioners court, and
said bonds shall bear not more than
) y per cent interest per annum, and
which bonds shall be examined by
the attorney general of Texas, and
registered by the comptroller of pub
lie accounts of Texas. Such bonds,
when so issued shall continue in the
custody of and under the control of
the commissioners court of the
county in which they were issued,
and shall be by said court sold to
the highest and best bidder for cash,
either in whole or in parcels, at not
less than their par value, and the
purchase money therefor shall be
placed in the county treasury of
such county to the credit of the
available road fund of such county,
or of such political subdivision or
defined district of such county, as
the case may be. Such funds shall be
paid out by the county treasurer
upon warrants drawn on such funds
issued by the county clerk of the
county, countersigned by the county
Judge, upon certified accounts ap-
proved by the commissioners court
of the county. when such funds be-
long to the entire county, and when
such funds belong to political sub
division or defined district of a cOun-
ty, such funds shall be paid out by
the county treasurer upon warrants
issued by the county clerk upon GER
titled accounts of the road superin-
Itendent of such road district and ap-
proved by the commissioners court
of the county. The general laws of
Texas relative to county bonds, not
in conflict herewith, shall apply to
the issuance. approval, registration,
sale and payment of the bonds here
in provided for
Section 6. Before said road bonds
shall be put on the market the coun-
ty commissioners court of the coun-
ty in which such election was held
shall levy a tax sufficient to pay the
interest on such bonds. and to pro-
duce sinking fund sufficient to pay
the bonds at maturity, and providing
further that said tax herein author
izp6 CboD hn aCC,SSpd and collected
in the same manner as now provided
by law for the assessment and col
lection of other road taxes, if for a
whole county, and if for political
subdivision, or other defined district
of a county, then it shall be assessed
and collected as is now provided by
law for the assessment and collec-
ton of common school district spe-
cial local taxes, And it is hereby
ers' court to levy such tax; and it is
hereby made the duty of the tax col
lector and assessor of such county
wherein such taxes have been levied
to assess and collect the same in the
same manner, and at the same time
as other taxes. And said taxes when
so collected by such collector shall
be by him paid over to the county
treasurer of such county as and when
other taxes are paid to the county
treasurer, And the county treasurer
Of said county shall be custodian
of all funds collected by virtue of
this law, and shall deposit the same
with the county depository as county
funds, and ne shall pay the interest
and principal, as it becomes due on
such bonds, out of the funds so col
lected, in the same manner as the
law directs in case of county court
house bond funds.
Section T. For the purpose of oper-
ating and being known under the
provisions of this act, each political
or defined district now
or herafter to be described and de-
fined for the employment of this act
in any cOupty in this state shall he