The Laws of Texas, 1934-1935 [Volume 29] Page: 44 of 2,086
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34 GENERAL AND SPECIAL LAWS.
lars ($7,750,000.00) of bonds as, in its judgment, is needed to
procure State money necessary for the relief of the unemployed
and needy, and upon the filing of said application, said Texas
Bond Commission shall sell the amount of bonds so requested
by the Texas Relief Commission. Upon further application of
the Texas Relief Commission, said Texas Bond Commission is
hereby directed to sell additional bonds in the amount so applied
for. Upon the sale by the Texas Bond Commission of
any part of the Seven Million, Seven Hundred Fifty Thousand
Dollars ($7,750,000.00) of Texas Relief Bonds, as herein provided
for, the said Bond Commission shall by order provide
that said installment of bonds shall mature over a period of
eight (8) years beginning with March 1, 1936, and shall mature
approximately in the same proportions as set out in subsection
"C" of Section 2, hereof. The order of the Bond Commission
designating the maturities shall be entered upon the
minutes of the Commission. In no event shall the total amount
of the bonds sold under authority of this Act exceed a total
face value of Seven Million, Seven Hundred Fifty Thousand
Dollars ($7,750,000.00). No bonds, as provided for hereunder,
shall be sold from and after the fifteenth day of September,
A. D. 1935. It is further provided that no officer, or officers,
board, commission, or any person whatever shall borrow from
any government, or from any source, or permit advances of
any amount whatsoever, for any of the purposes stated in Section
51-a, Article 3, of the Constitution, in anticipation of the
future issuance of bonds, and any such loan or advance shall
be void, and shall create no obligation against the State of
Texas, and any officer of the State of Texas or any officer or
member of any board or commission of the State of Texas participating
in such attempted loan or advance shall be guilty of
high crimes and misdemeanors.
SEC. 4. The bonds authorized to be sold by this Act shall
be sold by the Texas Bond Commission at a time and place to
be designated by the Bond Commission, and, after advertisement,
published in three (3) newspapers of general public circulation
in the State of Texas, which publication shall be made
once at least one week prior to the day said bonds are offered
for sale, the advertisements specifying date, amount, and maturities
of the bonds, the rate of interest, and such other provisions
as the said Commission may deem proper. Said Commission
may in its discretion publish a similar advertisement
in one newspaper of general circulation outside the State of
Texas. Offers for said bonds shall be made upon sealed bids
filed with the Secretary of said Bond Commission and accompanied
by such earnest payment as the Bond Commission may
direct; the said Bond Commission shall reserve the right to
reject all bids, but in the event a bid is accepted, the State
Treasurer, on order of the Texas Bond Commission, is directed
to deliver said bonds to the purchasers when he shall have received,
for the credit of the State of Texas, current funds of
the United States to the extent of the highest bid made for
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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/m1/44/: accessed July 24, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .