The Laws of Texas, 1927 [Volume 25] Page: 75 of 1,111
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GENERAL AND SPECIAL LAWS. 59
the use of said credit and the creation of said debt, levy a tax
sufficient to pay said debt, or such amount thereof, as may
mature during the current year, and shall from year to year,
levy a tax sufficient to liquidate same as it accrues.
SEC. 8. All bonds or warrants issued under the provisions
of this Act shall be issued in the name of the county; shall be
signed by the county judge and attested by the county clerk
under the seal of the commissioners' court; they shall be issued
in such denominations and payable at such time, or times, not
to exceed forty years from their date as may be deemed most
expedient by the court, and shall bear interest not to exceed 6%
per annum. All bonds shall be approved by the Attorney General
and registered by the Comptroller as other county bonds or
warrants are approved and registered; all bonds or warrants
shall be sold by the commissioners' court on the best terms and
for the best price possible, but for not less than face par value
and accrued interest, and all moneys received therefor, shall be
paid to the county treasurer, and by him placed to the credit
of the navigation fund of such county, and paid out on warrants,
as other county funds are disbursed.
SEC. 9. When bonds or warrants have been voted, the commissioners'
court shall levy and cause to be assessed and collected
annually, taxes sufficient to pay the interest on such
bonds, and to provide a sinking fund to redeem the same at
maturity, and if the credit of the county is used otherwise than
by the issuance of bonds and warrants, in such a way as that
a debt against the county is created, said court shall levy and
cause to be assessed and collected annually a tax sufficient to
pay said indebtedness as and when it accrues. The sinking fund
of said bonds or warrants shall be invested as the sinking fund
of other county bonds are invested.
SEC. 10. When the right-of-way and necessary dumping
privileges have been secured by such county under the provisions
hereof, either by purchases, condemnation, or donation,
such county shall have the right, and is hereby authorized to
convey said right-of-way and necessary dumping privileges to
the Government of the United States by deed executed as other
deeds by counties are required to be executed.
SEC. 11. The purpose of this Act being to grant authority to
the counties of Texas to issue bonds, warrants or otherwise
lend their credit to acquire and convey to the United States
Government, the necessary right-of-way and necessary dumping
privileges for water ways or navigable canals, the construction
of which has been, or may be, authorized by the Government of
the United States; the cost of construction and maintenance of
which, is to be borne by the Government of the United States,
and for no other purpose, and the provisions of this Act shall
be liberally construed for the purpose of carrying out such intent.
SEC. 12. The fact that the Chief Engineer of the United
States Government has allotted $2,000,000.00 for the construc-
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1927 [Volume 25], book, 1927; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth16125/m1/75/: accessed August 18, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .