The Laws of Texas, 1931-1933 [Volume 28] Page: 28 of 2,111
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20 GENERAL AND SPECIAL LAWS.
any depository, and to investigate the value of any of the securities
that may be pledged by such depository in lieu of the personal
bond; and such governing body may require any such
depository, if it deems advisable, to execute a new bond, or to
deliver into pledge additional or other securities. If said new
bond or securities required by the governing body for any reason,
as herein specified, be not filed within five (5) days from
the time of the service of a copy of said order upon said depository,
the governing body may proceed to the selection of another
depository in the same manner as provided for the selection of
a depository at the regular time for such selection. Nothing
in this law shall in any manner limit, restrict, or prevent the
governing body from requiring any depository to execute a
new bond at any time such governing body may deem it necessary
for the protection of the city.
SEC. 3. In the event depositories have been selected at the
time this Act shall become effective such depositories may secure
said funds by deposit of approved securities as herein provided
and upon the approval and deposit of such securities shall be
entitled to a cancellation of the personal bond, bonds or surety
SEC. 4. The fact that there is now no adequate law in this
State to protect city depositories creates an emergency and an
imperative public necessity that the Constitutional Rule requiring
bills to be read on three several days in each House be suspended,
and the same is hereby suspended, and this Act shall
take effect, and be in force from and after its passage, and it
is so enacted.
Approved August 11, 1931.
Effective August 11, 1931.
[NOTE: H. B. No. 68 passed the House by a vote of 106 yeas,
10 nays; passed the Senate by a vote of 31 yeas, 0 nays.]
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1931-1933 [Volume 28], book, 1933; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth17293/m1/28/: accessed January 21, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .