The Laws of Texas, 1921 [Volume 21] Page: 33 of 1,670
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GENERAL LAWS. 25
perative public necessity exists that the constitutional rule requiring
bills to be read on three several days be suspended, and that this Act
take effect and be in force from and after its passage, and it is so
[NOTE.-The enrolled bill shows that the foregoing Act passed the
House, no vote given; and passed the Senate, no vote given.]
Became a law without the Governor's signature.
Effective November 15, 1921.
CITIES AND TOWNS-PROVIDING THE METHOD OF PAYMENT
OF CURRENT EXPENSES OF CERTAIN
CITIES AND TOWNS.
S. B. No. 98.] CHAPTER 15.
An Act providing that any city or town in this State having a population of
161,000 or more according to the last U. S. census may provide for the
payment of current expenses of said city or town for any fiscal year or
portion thereof by the issuance of warrants drawn against the current
revenues of said city or town for such fiscal year to the extent of eighty
per cent of such revenues subject to the payment of current expenses, and
providing for the payment of interest or discount upon such warrants,
and providing that such warrants shall constitute a lien upon the revenues
of such city or town for such fiscal year, and repealing all laws and parts
of laws in conflict herewith, and declaring an emergency.
Be it enacted by the Legislatlre of the State of Texas:
SECTION 1. Any incorporated city or town in this State, whether
incorporated under the General Laws of this State, or incorporated
by special charter adopted in the manner provided by law,
and having a population of 161,000 or more according to last U.
S. census, may, through its board of commissioners of city council,
provide for the payment of its current expenses for any current
fiscal year, or for any portion of such fiscal year, by the issuance of
warrants drawn against the current revenues of said city or town
for such fiscal year, and if no funds are available to pay such
warrants at the time of the issunce thereof, the board of commissioners
or city council of such city or town may provide for the
payment of interest upon such warrants, or may provide for the
payment of a discount thereon; provided that such interest or discount
shall never exceed an amount equal to six per centum per annum
upon the face of such warrants for the period of time intervening
between the date of the issuance of such warrants and the time of
payment thereof, and provided further that in no event shall the
board of commissioners or city council provide for the issuance of
warrants upon which interest or discount is to be paid, in excess
of eighty per cent of the estimated revenues of said city or town for
such fiscal year after the deduction of all interest upon the bonded
indebtedness of such city, or town, to be paid out of the revenues
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1921 [Volume 21], book, 1921; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth14933/m1/33/: accessed June 20, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .