General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature Page: 538
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Ch. 197 58TH LEGISLATURE-REGULAR SESSION
ties and the revenues thereof and other pertinent matters as may be deem-
ed necessary to insure the marketability of said obligations. If such bonds
are payable from sources other than taxation, such bonds may be issued on
a parity with other revenue bonds issued pursuant to this Act or pursuant
to other applicable laws, and both such bonds and such parity revenue
bonds may be payable from the same source or sources.
Sec. 21. All bonds of the district shall be and are hereby declared to
be legal and authorized investments for banks, savings banks, trust com-
panies, building and loan associations, savings and loan associations, in-
surance companies, fiduciaries, trustees, guardians, and for the sinking
fund of cities, towns, villages, counties, school districts, or other political
corporations or subdivisions of the State of Texas. Such bonds shall be
eligible to secure the deposit of any and all public funds of the State of
Texas, and any and all public funds of cities, towns, villages, counties,
school districts, or other political corporations or subdivisions of the State
of Texas; and such bonds shall be lawful and sufficient security for said
deposits to the extent of their value when accompanied by all unmatured
coupons appurtenant thereto.
Sec. 22. After any bonds (including refunding bonds) are authorized
by the district, such bonds and the record relating to their issuance shall
be submitted to the Attorney General for his examination as to the valid-
ity thereof. If such bonds have been authorized in accordance with the
Constitution and Laws of the State of Texas, he shall approve the bonds
and the bonds then shall be registered by the Comptroller of Public Ac-
counts. Thereafter, the bonds shall be valid and binding and shall be in-
contestable for any cause.
Sec. 23. The Commissioners Court of Jefferson County, Texas, shall,
upon requisition of the Board of Port Commissioners, levy taxes necessary
to pay the interest on the bonded debt and to create a sinking fund to
retire the principal thereof, as well as a maintenance tax for said district
within the limitations prescribed by this Act. In all matters pertaining
to the levying and assessing of taxes, the equalization thereof, and the
collection of same, and the duties of all officers in connection therewith,
the laws of the State of Texas for assessing, levying and collecting of state
and county taxes shall apply, and such duties shall be done and performed
by the officers charged with the collection of state and county taxes. Said
taxes shall be deposited with the depository or depositories of said district
at the times and in the manner provided by law for depositing county
taxes in the county depository, and such officers shall furnish such bonds
and receive such compensation for their services as is now being paid
for like services, and said district shall have a lien upon all property
against which taxes may be levied and assessed, enforceable under the
same law and in the same manner as a lien securing state and county
taxes. Limitation shall not run against the district as a bar to the collec-
tion of any taxes or other public charges of the district.
Sec. 24. The Legislature hereby exercises the authority conferred
upon it by Section 59, Article 16, of the Constitution of the State of Texas,
and declares the said port district as hereinabove described to be essential
to the accomplishment of the purposes of said constitutional provision,
to be a governmental agency and body politic and corporate with such
powers of government and with authority to exercise such rights, privi-
leges and functions as are conferred in this Act, and as are conferred by
the provisions of General and Special Laws applying to navigation dis-
tricts that are not in conflict herewith.
Sec. 25. This Act and all of the terms and provisions hereof shall be
liberally construed to effectuate the purposes set forth herein.
538
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Texas. Legislature. General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature, legislative document, 1963; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth221759/m1/874/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.