The Laws of Texas, 1934-1935 [Volume 29] Page: 42 of 2,086
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32 GENERAL AND SPECIAL LAWS.
der the authority of Chapter 37, Acts 1st Called Session 43rd
Legislature; but bonds
No. 1 to No. 250, incl.
501 " " 762
1026" " 1300
" 1576 " " 1863 "
" 2151 " " 2450 "
" 2751 " " 3062 "
" 3376 " " 3700 "
" 4026 " " 4375 "
4726 " " 5113 "
of this series having been sold and delivered, are not canceled,
but are declared to be valid and binding obligations of the State.
SEC. 2. In conformity with the provisions of Section 51-a,
Article 3, of the Constitution of the State of Texas, the Legislature
of the State of Texas hereby issues Seven Million Seven
Hundred Fifty Thousand Dollars ($7,750,000.00) of bonds.
A. Such bonds are issued on the faith and credit of the
State of Texas, but the redemption of any such bonds or the
payment of interest thereon shall be made from sources other
than a tax on real property, and the indebtedness as evidenced
by such bonds shall never become a charge against or lien upon
any property, real or personal, within this State. The bonds
shall be known and designated as "Texas Relief Bonds, Second
B. Such bonds shall be numbered consecutively, beginning
with Number One, and shall be in denominations of Fifty Dollars
($50.00) and One Hundred Dollars ($100.00) each and
such multiples of One Hundred Dollars as may be determined
by the Texas Bond Commission, aggregating, however, the sum
of Seven Million, Seven Hundred Fifty Thousand Dollars
C. They shall be dated March 1, 1934, and the principal of
said bonds shall mature as follows:
$ 800,000.00 on March 1, 1936.
$ 850,000.00 on March 1, 1937.
$ 900,000.00 on March 1, 1938.
$ 950,000.00 on March 1, 1939.
$1,000,000.00 on March 1, 1940.
$1,050,000.00 on March 1, 1941.
$1,075,000.00 on March 1, 1942.
$1,125,000.00 on March 1, 1943.
D. They shall bear interest at the rate of four and a half
per cent (41/2%) per annum, payable semi-annually on March
1, and September 1, of each year, the first interest being due
and payable on September 1, 1934.
E. The principal and interest shall be payable on the maturity
date thereof in lawful money of the United States upon
presentation and surrender of bonds or proper coupons at the
office of the Treasurer of the State of Texas, at Austin, Texas.
F. They shall be exempt from taxation by the State, or by
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1934-1935 [Volume 29], book, 1935; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth17292/m1/42/: accessed May 25, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .