Hanomble J. H. Willlam County AudItor SmraIlt county -, .: port worth, Texas
Opinionfhrmbero-5691 Rer Ohder the eiven facts, am the Tam-antCounty RomlandBridgeboads in question aubjeat to "a refunded? He are In Pea0ipt'afyour letter. of recentdate, ,.vhiahie 'quoteau Sqllovst:,:;~.: ::: . 1 .. ',I ~. . '"InlPl2 Tarrantocimty it&ml ~z,600,000Read MdBridgebondssnb~arlngiaterestat~rrrtn OS 5%. :In 1922 the~Cmntissictners Court OS l'emmnt County refbuded S part OS .thene bands at 4-3/&i. :. There are now cutatanding$360&00 OS these Re- fUndingBonds and the Districtand County Road Bond Ccmilttee,throughMr. Joe HeYson has called upon the Cambslonerr,~Caurt.oS.thirCounty to .-.:'.: .~.. refund them bonds alaimingthey fall-undertae ruling In the Cochmn County decision of the supzwe court. .Of'course the Bond brokersam opposedto having these bonda milledand advlmo that there vi11 be lltlgatlonif tM.8 County at- tempts to reSund these bondr. Ammg other am- tations they plake,is the aontentioathat the mle announaed~fnthe Co&ran County oarsevould not apply to rei'undingbonda, but anlp to the orlgf.mlissue. In order that you may know vhat' the order OS theCc+amlselonera Comtwaa at the time of the tseuanceor the FefUndingbands, vith respectto msturitiea,I enclosea copy.of that ;;m~lon of the CoWa order deal- vith matUb . . -..,. *. ,.. : :I ahauld like to have ~&iFo&nion ar 'to -- " _"~: whether these bonds iiWiimti3mbjeotto being CeSundad, (,':
Xonor@bleS. M. Yillkms, rsgS 2
am~whetheryou aouldandvtildapprove ruchre- iundingboWsa8t.helavvouldrequlrepoatodo In order to runder them valld,obllgetionm OS ~JI%II '.' Countr. "IS we aanlegally reSonithe8e bond& rs Se01 ve muut do 80 under the demand OS the$ounty an&Din- I."~~$F'd ~ B"., m-w== r .*,:;, ..,. -:.-, ?~-W-.. .y..;y..;.. :;f..a'..',:,~ /..., 'I .<. Replyingto the SoregoJx~question,you ai'eadvised tbatthu oplnlonlntheCoahmnCountyo86o aeeau~tolnalude all bonds lsrruedunder authorityo? Cbnpter1, Title 21, Re- ..+l8ed Statutm 1911, nov Chnpter2, !PltIe22, Reviml Statutes 1925. Art&la ,725is lnaluded In Cbepter 2, Title 22, aad made ullowl: 3her8bond8 h6ive been iagdiyissued, or may be hereaSter%ifsuedSor any piwpoae'authorized in 1 thh ahapter,new boP4r in lieu th0reoi bearing %hiv,uaw or a mfer patteOS lntere8tmay be &sued, '. in.4ceuonn1tywith 6rlutfllglaw, and t&e oGidsalon- or# ~eoust-mylmsoe'e~uahbond8 to ~8ture ce??lall$ or ethexW.ue,not to exceed IWty years Sraa their p. 16~ Aatu 1893, p. ll2j G.L. :'E&y; ;g;P '..~ . ._ . . ~ .,.'~.y: ."~..!~ .,, --:X0%s ouropl..ulcm tbst.tbeSupremeCourt'uouldhold that the rclSunding bad8 are optional,and w are thwefqre ap- vr c wl l x bonda.'. 'tahq '. ~'> @imy ~tJ?ulY yoyrn;.__ : : .. ATTORHEYGXRRALOFTfzxAs ."BY .. /a/ 0. F. Gibmri. ':
C. F. Olbaon Asriatrnt . CXG-aret APPROVEDmm.4, 1943