The Laws of Texas, 1926 [Volume 24] Page: 1,727 of 1,784
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SPECIAL LAWS. 1695
the taxable property therein appearing upon the assessment
rolls for State and county taxes, in payment of such bonds, be
and the same is hereby delegated, ratified, approved and confirmed.
SEC. 3. That the order adopted by the county commissioners'
court of said county on the 24th day of October, 1923, submitting
to the resident property taxpayers, who were qualified electors
of said road district, at an election, to be held in said road
district on the 1st day of December, 1923, the proposition of
issuing bonds of said road district in the amount of three hundred
thousand dollars ($300,000.00), and the levy of a tax upon
the taxable property therein to pay interest on said bonds
and provide a sinking fund for the redemption thereof, for
the purpose of constructing, maintaining and operating macadamized,
graveled or paved roads or turnpikes, or in aid thereof,
and the notice published and posted at said election, the form of
ballot used thereat and the canvass of the vote cast at said election
as recorded in the minutes of said county commissioners'
court, revealing that a two-thirds majority of such resident qualified
property taxpayers who were qualified electors, voting on the
propositions voted in favor of the issuance of such bonds and
levy of such tax, are hereby legalized, approved and validated.
SEC. 4. That the order or orders thereafter adopted by the
county commissioners' court of said county authorizing the issuance
of said bonds of said road district, prescribing the date and
maturity thereof, rate of interest borne by the bonds and place
of payment of principal and interest, and fixing form of bond
and coupon, and providing for the levy of an ad valorem tax
upon the taxable property in said road district sufficient to pay
the interest on such bonds and to produce a sinking fund for
the redemption of the principal thereof at maturity, are hereby
legalized, approved and validated.
SEC. 5. That sale of said bonds by the county commissioners'
court of said county is hereby legalized and validated and such
bonds so sold and delivered are hereby legalized and validated,
and constituted the legal obligations of said road district, and
taxes sufficient to pay the principal of and interest upon said
bonds heretofore levied upon the valuation of taxable property
in said road district according to the value of taxable property
as determined for State and county purposes, are hereby legalized
and validated; and that taxes in amount sufficient to pay
the principal of and interest upon said bonds, levied upon the
valuation of taxable property in said road district according to
the value of taxable property therein as determined for State
and county purposes, are hereby found and fixed as the amount
to be raised in said road district and constituted the basis for
such taxation, and the assessment and levy of such taxes is hereby
legalized and said taxes in an amount sufficient to pay the
principal of and interest upon said bonds, now outstanding, shall
be annually levied and assessed by the county commissioners'
court of said county upon the value of taxable property in said
road district as fixed for State and county taxes, and the power
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1926 [Volume 24], book, 1926; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth16124/m1/1727/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .