Texas Attorney General Opinion: O-528 Page: 1 of 1
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OPF i TEXAS
GERALD C. MMANN
March 22, 1939
Honorable Tan C. sing
Dear Sirs Opinion No. 0-628
Res Cancellation and releas
m&w0 Railway Bonds.
We are in receipt of your letter of March 22 which is as foll:
"During the year 1860 and 1861 the State purchased for its srmanen-
School Fund serial bonds of the TNMNO railroad in the amount of
$430,50 00. At a later date there was a default in principal and
terest and about 1871 a special agreement was made deferring the ma
turities of the obligation and providing a speo.fioi annual payment
principal and interest. Final payment of the principal and interes
obligation was made July 14, 1936. This office is satisfied that t
records reflect that the obligations have beenpRaid in full to the S
'We are advised that during the year 19356 the office of the Attorne;
General of Texas rendered an option that a joint resolution of the
legi slative.bodies, authorizing the release of the obligations to t
Tt&FO railroadfwould be necessary before -such release could be made
the State- Treasurer and the Governor. There seems to be considerab
doubt as to the legal requirement of such a joint reselutiia or law
whichever it may be called, before the administrative officials of
State can release obligations which have been satisfied in full. I
will thark you to advise if a legislative act is necessary before t
State Treasurer and the Governor can release the paid 'bt unoaiioell
obligations of the TN&NO railroad referred to above.,
If these bonds and acrued interest have been fully paid off,
the obligation completely discharged, as stated in your letter, the
road would undoubtedly be entirled to the surrender and canoellatic
the bonds in question.
Aesrning that the bonds and interest have been fully paid, it
necessary for the Legislature to pass ay Act or Resolution author
proper officials to cancel and surrender said bonds, and execute a
evidencing that fact.
CCCFU:egw Yours very truly
/s/ GERALD C. MANN ATTORNEY GENERAL OF
ATTORNEY GERlERAL OF TEXASy/ Ceil C. C
THE ATprTNEY GENERAL
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Texas. Attorney-General's Office. Texas Attorney General Opinion: O-528, text, 1939; (https://texashistory.unt.edu/ark:/67531/metapth257710/m1/1/: accessed March 23, 2019), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.