The Laws of Texas, 1926 [Volume 24] Page: 42 of 1,784
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10 SPECIAL LAWS.
REMITTING INHERITANCE TAXES TO SEALY AND
SMITH FOUNDATION AND JOHN SEALY ESTATE.
S. B. No. 271] CHAPTER 4
An Act to relieve the Sealy and Smith Foundation for the John Sealy
Hospital, the estate of John Sealy, deceased, formerly of Galveston,
Texas, and the legatees in and under his will, from payment of taxes
provided in Chapter 5, Title 122, Revised Statutes of Texas, generally
known as Inheritance Taxes, and to provide that the city of Galveston
shall not thereby be relieved from any obligation under a certain
lease of John Sealy Hospital, executed by the board of regents of
the University of Texas with the said ctty, dated the 9th day of May,
1913, and declaring an emergency;
Be it enacted by the Legislature of the State of Texas:
SECTION 1. That the Sealy and Smith Foundation for the
John Sealy Hospital, a charitable corporation, incorporated under
the laws of this State, for the construction, remodeling, enlarging,
equipping and furnishing of the John Sealy Hospital,
the property of the State used for clinical purposes of the medical
department of the State University, and other hospital building
or buildings in the city of Galveston in connection with the
John Sealy Hospital and the endowment thereof, for the use of
the people of the said city of Galveston, by providing them with
the necessary medical care and attention therein, the legatees
under the will of and estate of John Sealy, deceased, and each
of them, be and are hereby relieved and released from payment
of taxes provided for in Chapter 5, Title 122, Revised Statutes
of Texas, generally known as Inheritance Taxes, and the State
Comptroller and the tax collector of Galveston County are hereby
ordered and directed not to collect or attempt to collect such
tax or taxes, which taxes if not so hereby released would be payable
out of the part of his estate devised and bequeathed by said
Sealy to said foundation, and provided, however, that the city of
Galveston shall not thereby be released from any obligation in or
under a certain lease of said John Sealy Hospital, executed by
the Board of Regents of the University of Texas, with said city,
dated the 9 day of May, 1913.
SEC. 2. Section 1 hereof shall become void unless the Sealy
and Smith Foundation for the John Sealy Hospital shall within
six months after the passage of this Act enter into an agreement
with the Board of Regents of the University of Texas, a
copy whereof certified as a correct copy by the president of the
University of Texas shall be filed with the Secretary of State,
whereby the Sealy and Smith Foundation for the John Sealy
Hospital shall agree with said board of regents to segregate and
set apart property, or the proceeds thereof, or cash, or partly
property and partly cash, to be agreed to by and between said
foundation and the said regents of a value equal to seven hundred
thousand ($700,000.00) dollars, the estimated amount of
taxes released by Section 1 hereof and by which said foundation
shall agree to keep such property separate from its other assets
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1926 [Volume 24], book, 1926; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth16124/m1/42/: accessed June 29, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .