The Laws of Texas, 1931-1933 [Volume 28] Page: 186 of 2,111

                                
54             GENERAL AND SPECIAL LAWS.
"Article 7043. Ascertaining Tax Rate. Within five days
after the Comptroller has received such certified statements
from every Assessor within this State, said Board shall meet
for the purpose of calculating the ad valorem rate of taxes to
be collected for the State and public free school purposes. In
calculating said rates the Board shall calculate the same by the
following rules and upon the following basis; they shall find
by adding together all the property subject to taxation in all
counties as shown by the certified statements returned by the
Assessors, the total valuation of all property within this State
subject to ad valorem taxes. They shall find by adding together
the sums appropriated by the Legislature, which will or which
may become due by the State, during the following fiscal year,
the total sum of which will or which may become due by the
State, during the following fiscal year. They shall find, by
adding all sums paid into the State Treasury as delinquent
ad valorem taxes and interest and penalties thereon during
the first half of the current calendar year and the latter
half of the preceding calendar year and all sums which
may be expected tobe paid as taxes for State purposes
from all sources other than ad valorem taxes, the total sum
expected to be collected from all said sources. They shall find
by subtracting from the total sum which will or which may
become due by the State during the succeeding fiscal year the
total sum which may be expected to be paid as taxes for State
purposes from all sources other than current ad valorem taxes,
the total sum for State purposes which must be collected by
current ad valorem taxes. They shall add to such remainder
twenty per cent of said remainder. They shall divide the total
sum for State purposes which must be collected by ad valorem
taxes added to twenty per cent of such total sum by the quotient
of the total valuation of all property within this State divided
by one hundred. The quotient shall be the number of cents
on the One Hundred ($100.00) Dollars valuation to be collected
for the current year for State purposes; provided that said
quotient shall not be run to more than three decimals. The rate
for State purposes shall never exceed the rate fixed by law on
the One Hundred ($100.00) Dollars valuation of property; provided,
however, that the rate to be fixed as provided herein for
the years 1931 and 1932 shall not exceed sixty-nine (69) cents
on the One Hundred ($100.00) Dollars valuation of property;
and provided further the sixty-nine (69) cents shall include the
seven (7) cent Confederate Pension Tax. In calculating the
rate to be collected for public free school purposes, said Board
shall take into consideration the number of children in the State
within the scholastic age, to be determined from the most recent
official school census; and shall fix a rate that will yield and
produce for such fiscal year Seventeen and One-Half ($17.50)
Dollars per capita for all the children within the scholastic age,
as shown by said scholastic census; provided, the rate so fixed
for any year shall never exceed the rate fixed by law."