Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1922-09-16
COUNTY'SBOND
issue HAS NOT
Been REFUSED
Bond Company Has Deposit
ed Certified Check to Take
County Bond Issue at Par
Value

Rumors 10 the effect that the bond
issue recently voted in Cameron county
had been disapproved ~ tie attorney
general have been rife on the streets
the past week. County Judge Dancy,
when apprised ~ the rumors. stated
they were absolutely false. and that AZ
soon as the signature of the attorney
general il affixed the bonds will he
ready for the bond company. Sons
question has been raised due to the
overlapping Of certain drainage districts,
hut Judge Dancy was confident thar
this matter will be adjusted and the
bonds signed by the attorney general at
an early date. la discussing the sub
jecr Judge Dancy said:
"On May 20 we sold our bonds io a
New Orleans house for a premium of
$685.. On June ~ the issue carried
overwhelmingly. On Monday. June L..
the commissioners court canvassed tho
returns and on June L. issued the bonds.
The auditors office broke records in
getting the transcript ready and on June
IL forwarded the transcript to the at
tOrney general. nj the same time furnsh-
ing duplicate transcript 10 the New
Orleans people. On Monday. June ~. L
appeared ia person before the attorney
general and We went over matters Der-
tanning 10 the record and hp called for
considerable additional information. The
auditors office secured this information,
fully and in detail. and on June - for
warded II 90 the attorney general with
duplicate copies to bond buyers. Imme-
diately on receipt of the information
with explanations from the auditor to
the attorney general. the latter. on
June 80. wrote 10 Major O'Brien. coun-
~ auditor. thar he had approved The
bond record. This information was CON-
municated to the bond buyers.
The band buyers have from time n
time asked for further information which
has been promptly furnished Thei.
contract called for approving opinion of
their attorneys and their attorneys have
raised some questions in letter ~ their
clients which were submitted hy the
bond buyers 10 the attorney general,
ami these questions have caused some
doubt in the mind of Judge Gibson tnd
he has asked us for Information on the
question. which both The auditors office
and myself have been working on COR
''"' ""e . ht report IHdt the bon1S
have been disapprovcd j. absolutely false.
II leave Sunday afternoon for Aus
I'M and trust to get matters cleared nm
at an early date. There IL no danger
of the election being declared void the
only danger is delay and that i what
We are fighting against. For this rsa-
son we entered into conditional con-
tract yesterday afternoon with Chica-,
bond house. X. NJ. Grant X Company to
lake the bonds M par and accrued in-
trrest but no premium. Grant x Com
1 pany have until Monday TO put up n
cashiers check Of five thousand dollars
a. forfeit and the contract has ONLY
two conditions: one that we are Ia Oh
tam the waiver Of the state board Of Cd
ucatIon. and the other that We get the
approval ~ the attorney general On the
| bid. The New Orleans contract will be
cancelled on deposit If Grants check.
liz IN one Of the bittcrest disappaint-
ments have everexperienced 10 lose
what was considered one Of the best il
not the best premium ever offered in
the state. hut the commissioners feel
that i would be criminal 20 run The risk
Of litigation and delay on a matter IL
such tremendous importance inst 10 try
TO save $9.03J.
IL was learned this afternoon that
Grant X Company had already Deposit
/ ed their certified check with the coun-
~ without waiting for the time limit
liked by the commissioners 10 expire.