The Laws of Texas, 1923-1925 [Volume 22] Page: 36 of 1,648

26 SPECIAL LAWS.
SEC. 8. The trustees of said district shall have power to levy and
collect an annual ad valorem tax of and not exceeding the limit as
now provided by law or as may hereafter be adopted, for the maintenance
of the public free schools therein, and a tax of and not exceeding
the limit as now fixed by law or as may hereafter be adopted,
on all the taxable property in said district for the purpose
of erecting, constructing, repairing and equipping, or either,
of public free school buildings within the limits of said district, and
of purchasing sites therefor; provided, however, that the amount of
maintenance tax, together with the bond tax of said district, shall
never exceed the constitutional limit as now fixed or as may hereafter
be adopted. Said trustees shall have power to issue coupon
bonds of said district for building purposes, and to equip such buildings,
which bonds shall be payable not exceeding forty years from
their -date, in such sums as they shall deem expedient, and to bear
interest not to exceed five per cent per annum; provided, however,
that when such buildings are to be constructed of wooden materials,,
the bonds herein provided for shall not run for a longer period than
twenty years; provided, that the aggregate amount of bonds for the
above named purposes shall never reach such amount that the tax
permitted by law to be voted for such purposes on the taxable property
within said independent school district shall not be sufficient to
pay the current interest and create a sinking fund sufficient to pay
the principal at maturity; and, provided, further, that no such tax
shall be levied and no such bonds shall be issued until after an election
shall have been held within said district wherein a majority of
the property tax paying voters voting at an election to be held for
that purpose shall have voted in favor of the levying of the tax or
the issuance of such bonds, or both, as the case may be; provided.
that the specific rate of tax need not be determined at said election.
SEC. 9. The election provided for in the preceding section hereof
shall be ordered by the trustees on the petition of at least twenty
property tax paying voters of said independent school district at
any time not less than thirty days from the order of election; or
said election may be ordered by the board of trustees on their own
motion and initiative, which order shall state the date when and the
place where the election shall be held; and the amount of tax to be
levied, or the amount of bonds to be issued, or both, as the case may
be, and! the trustees shall also name and appoint therein a manager
or managers of election, which election shall be held as nearly as
may be possible in conformity -with the general election laws of
the State; provided, that when a proposition to levy such tax or
to issue such bonds may be defeated, no election for that purpose
shall again be ordered until after the expiration of one year. The
trustees shall give public notice of the elections herein provided for
in the manner now prescribed bv law, and the general election laws
of the State of Texas applicable to voting of taxes and bonds in
independent school districts and returns thereof are hereby made
applicable to the independent school district hereby created.
SEC. 10. The assessor and collector of taxes of the district shall
have the power and shall perform the same duties, with reference to