Claude News (Claude, Tex.), Vol. 76, No. 1, Ed. 1 Thursday, August 19, 1965 Page: 3 of 16
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AUG. 19, 1965. Claude, Texas
THE CLAUDE NEWS
PUBLIC
Proposed CONSTITUTIONAL AMENDMENT
NUMBER FIVE ON THE BALLOT
PROPOSED CONSTITU-
TIONAL AMENDMENT
TO BE VOTED ON AT AN
ELECTION TO BE HELD
ON NOVEMBER 2, 1965.
SENATE JOINT RESOLU-
TION NO. 27 proposing an
Amendment to the Constitu-
tion of the State of Texas,
amending Article III of the
Constitution of the State of
Texas by adding a new Sec-
tion thereto to be designated
Section 48b, so as to create
as an agency of the State of
Texas the Teacher Retirement
System of Texas, vesting the
general administration and re-
sponsibility of the proper op-
eration of said system in a
state board of trustees to be
known as the State Board of
Trustees of the Teacher Re-
tirement System of Texas, au-
thorizing said Board to invest
assets of said system in vari-
ous obligations, and subjects
of investment, subject to cer-
tain restrictions stated therein
ar.d such other restrictions as
may hereafter be px-ovided by
law; providing that such
Amendment shall be self-en-
acting and shall not alter,
amend or repeal Section 43a
of Article III of the Constitu-
tion of Texas or any legisla-
tion passed pursuant thereto
except insofar as such legisla-
tion may limit or restrict the
provisions of this Amend-
ment; providing for the nec-
essary election, form of bal-
lot, proclamation, and publi-
cation.
BE IT RESOLVED BY THE
LEGISLATURE OF THE
STATE OF TEXAS:
Section 1. That Article III
of the Constitution of the
State of Texas be amended
by adding Section 48b there-
to which shall read as follows:
"Section 48b. There is here-
by created as an agency of the
State of Texas the Teacher
Retirement System of Texas,
the rights of membership
in which, the retirement privi-
leges and benefits thereunder,
and the management and op-
erations of which shall be
foverned by the provisions
erein contained and by pres-
ent or hereafter enacted Acts
of the Legislature r.ot incon-
sistent herewith. The general
administration and responsi-
bility for the proper opera-
tion of said system are hereby
vested in a State Board of
Trustees, to be known as the
State Board of Trustees of
the Teacher Retirement Sys-
tem of Texas, which Board
shall be constituted and shall
serve as may now or here-
after be provided by the Leg-
islature. Said Board shall ex-
ercise such powers as are
herein provided together with
such other powers and duties
not inconsistent herewith as
may be prescribed by the Leg-
islature. All moneys from
whatever source coming into
the Fund to provide retire-
ment, disability, and death
benefits for persons employed
in the public schools, colleges,
and universities supported
wholly or partly by the state
and all other securities,
moneys, and assets of the
Teacher Retirement System
of Texas shall be adminis-
tered by said Board and said
Board shall be the trustees
thereof. The Treasurer of the
State of Texas shall be cus-
todian of said mcneys and se-
curities. Said Board is hereby
authorized and empowered to
acquire, hold, manage, pur-
chase, sell, assign, trade,
transfer, and dispose of any
securities, evidences of debt,
and other investments in
which said securities, moneys,
and assets have been or may
hereafter be invested by said
Board. Said Board is hereby
authorized and empowered to
invest and reinvest any of
said moneys, securities, and
assets, as well as the pro-
ceeds of any of such invest-
ments, in bonds, notes, or
other evidences of indebted-
ness issued, or assumed or
guaranteed in whole or in
part, by the United States or
any agency of the United
States, or by the State of
Texas, or by any county, city,
school district, municipal corp-
oration, or other political sub-
division of the State of Texas,
both general and special obli-
gations; or in home office fa-
cilities to be used in admin-
istering the Teacher Retire-
ment System including land,
~! ,
ticn 43;
Co.-.-it:
>71.:-■] '
equipment, ar.d office build- I era'." ''" J
ing; or in such corporation J t:..n s'.v"
bonds, notes, othsr evidences
of indebtedness, and corpora-
tion stocks, including comrr.or.
and preferred stocks, of any in-
corporation created or ex: ~.t- or
ing under the laws of the
United States or of any of the
states of the United States, as
said Board may deem to b;
proper investments; provided j th:
SLL •
1 c f
that in making each and all o
such investments said Board
shall exercise the judgment
and care under the circum-
stances then prevailing which
men of ordinary pi-uder.ee, dis-
cretion, and intelligence exer-
cise in the management of
their own affairs, not in re-
gard to speculation but in re-
gard to the permanent disposi-
tion of their funds, considering
the probable income therefrom
as well as probable safety of
their capital; and further pro-
vided, that a sufficient sum
shall be kept on hand to meet
payments as they bccome due
each year under such retire-
ment plan, as may now or
hereafter be provided by law.
Unless investments authorized
herein are hereafter further
restricted by an Act of the
Legislature, no moi-e than one
per cent (1%) of the book
value of the total assets of the
Teacher Retirement System
shall be invested in the stock
of any one (1) corporation, nor
shall more than five per cent
(5%) of the voting stock, of
any one (1) corporation be
owned; and provided further,
that stocks eligible for pur-
chase .shall be restricted to
stocks of companies incorpor-
ated within the United States
which have paid cash dividends
for ten (10) consecutive years
or longer immediately prior to
the date of purchase and which,
except for bank stocks and in-
surance stocks, are listed upon
an exchange registered with
the Securities and Exchange
Commission or its successors;
and provided further, that so
long as less than $500,000,000
of said Fund is invested in the
government and municipal se-
curities enumerated above, r.ot
more than thirty-three and
one-third per cent (33%%)
of the Fund shall be invested
at any given time in common
stocks.- This Amendment shall
be self-enacting and shall be-
come effective immediately up-
pcal tco 6ecc-n<
S_"ti. ;i 48a of
Ccr.3titut:.y
,,,) ,.j 27
any legialati--
an
th
- ; or
; i o.'
ill cf
1' c,
Sec v.j :i
l cr re-
p: l o;
Artie' * ; [I of
* rp
l oi ii a -j a,
ber 1 oj, cv
passed ] ursu-
- i
thereto, l ccj-t inscfa- r.s
provisions . the :--:co.ui
paragraph of S c'.: >n -i'^a ar.d
any legislation pr ;sed par a-
ant thereto, may limit or re-
strict the yro visions hereof
and only to t.-.e extent of such
limitation cr restriction."
Sec. 2. The foregoing Con-
stitutional Amendment shall
be submitted to a -.-.be of the
qualified electors of this state
at an election to be held on
November 2, 1965, at which
election all ballots shall have
printed thereon the following:
"FOIl the Constitutional
Amendment amending Arti-
cle III of the Constitution
of the State of Texas by
adding Section 43b relating
to the Tcacher Retirement
Fund and the Teacher Re-
. tirement System of Texas,
revising provisions for in-
vestment of moneys and
other assets cf the Fund,
and changing other existing
provisions and making other
new provisions with respect
to the administration of the
Teacher Retirement Sys-
tem."
"AGAINST the Constitu-
tional Amendment amending
Article III of the Constitu-
tion of the State of Texas
by adding Section 48'o relat-
ing to the Teacher Retire-
ment Fund and the Teacher
Retirement System of Texas,
revising provisions for in-
vestment of moneys and
other assets of the Fund
and changing other existing
provisions and making other
new provisions with respect
to the administration of the
Teacher Retirement. Sys-
tem."
Sec. 3. The Governor of
Texas shall issue the neces-
sary Proclamation for the
election and this Amendment
shall be published in the man-
ner and for the length of time
iquired by the Constitution
on its adoption without any i and laws of this state.
Proposed CONSTITUTIONAL AMENDMENT
NUMBER NINE ON THE BALLOT
PROPOSED CONST 1 T I- i
T I O V AL AMENDMENT
TO BE VOTED ON AT VN
ELECTION TO HE HELD
ON NOVEMBER 2. 1965.
HOUSE JOINT RESOLU-
TION NO. 8 proposing an
Amendment to Section 24,
Article III and Section 17 of
Article IV of the Constitu-
tion of the State of Texas, to
allow an annual salary in an
amount to be fixed by the
Legislature for the Lieuten-
ant Governor and for the
Speaker of the House of
Representatives, and increas-
ing the per diem allowance
of Members of the Legisla-
ture.
BE IT RESOLVED BY THE I
LEGISLATURE OF THE I
STATE OF TEXAS:
Section 1. That Section 24 I
of Article III of the Constitu- j
tion of the State of Texas be I
amended to read as follows: |
"Section 24. Representatives
shall receive from the Public
Treasury an annual salary of
not exc^ >ding Four Thousand,
Eight Hundred Dollars ($4,-
30'.)) per year. Senators shall
receive from the Public Treas-
ury an annual salary of not
exceeding Four Thousand,
Iv fnt Hundred Dollars ($4,-
800) per year. The Lieutenant
Governor and the Speaker of
uh? House of Representatives
shc.il receive from the Public
Treasury an annual salary in
an amount to be fixed by the
Legislature. All Members of
the Legislature, including the
Lieutenant Governor and the
S' • .-alter of the House of Rep-
resentatives, also shall receive
from the Public Treasury a
rer diem cf not exceeding
Twenty Dollars ($20) per day
for the one hundred and forty
(140) days of each Regular
Session and for thirty (30)
days of each Special Session
of the Legislature. No Regu-
lar Session shall be of longer
duration than one hundred and
forty (140) days. This Amend-
ment shall be seif-er.acting
and appropriations heretofore
made in the General Approp-
riations Bill for the biennium
ending August 31, 19G7, for
the salaries of the Lieuten-
ant Governor and Speaker of
the House of Representatives
shall not be invalid because of
the anticipatory nature of the
legislation.
"In addition to the per diem
the Members of each House
shall be entitled to mileage in
going to and returning from
the seat of Government, which
mileage shall not exceed Two
Dollars and Fifty Cents
($2.50) for every twenty-five
(25) miles, the distance to be
computed by the nearest and
most direct route of travel,
from a table of distances pre-
pared by the Comptroller to
each county seat now or here-
after to be established; no
Member to be entitled to mile-
age for any extra Session that
may be called within one (1)
day after the adjournment of
the Regular or Called Ses-
sion."
Sec. 2. That Section 17 of
Article IV of the Constitution
of the State of Texas be
amended to read as follows:
"Section 17. If, during the
vacancy in the office of Gov-
ernor, the Lieutenant Gover-
nor should die, resign, refuse
to serve, or be removed from
office, or be unable to serve;
or if he shall be impeached or
absent from the State, the
President of the Senate, for
the time being, shall, in like
manner, administer the Gov-
ernment until he shall be su-
perseded by a Governor
or Lieutenant Governor. The
Lieutenant Governor shall,
while he acts as President of
the Senate, receive for his
services an annual salary in
an amount to be fixed by the
Legislature and the same
mileage which shall be al-
lowed to the Members of the
Senate, and no more; and dur-
ing the time he administers
the Government, as Governor,
he shall receive in like man-
ner the same compensation
which the Governor would
have received had he been em-
ployed in the duties of his
office, and no more. The
President, for the time being,
of the Senate, shall, during
the time he administers the
Government, _ receive in like
manner the 'same compensa-
tion, which the Governor
would have received had he
been employed in the duties
of his office."
Sec. 3. The foregoing Con-
stitutional Amendment shall
be submitted to a vote of the
qualified electors of this State
at an election to be held on
the first Tuesday following the
first Monday in November,
1965, at which election all
ballots shall have printed
thereon the following:
"FOR the Constitutional
Amendment allowing an an-
nual salary in an amount to
be fixed by the Legislature
for the Lieutenant Governor
and for the Speaker of the
House of Representatives
and allowing a per diem for
Members of the Legislature
not to e::ceed Twenty Dol-
lars ($20) per day for the
140 days of each Regular
Session and 30 days of each
Special Session.
"AGAINST the Constitu-
tional Amendment allowing
an annual salary in an
amount to be fixed by the
Legislature for the Lieuten-
ant Governor and for the
Speaker of the. House of
Representatives and allow-
ing a per diem for Mem-
bers of the Legislature not
to exceed Twenty Dollars
($20) per day for the HO
days of each Regular Ses-
sion and 30 days of each
Special - Session.?
Sec. 4. The Governor of
Texas' shall issne the neces-
sary proclamation for the elec-
tion and this Amendment
shall be published in the
manner and for the length of
time as required by the Con-
stitution and laws of this
State. m
PUBLIC NOTICE
Proposed CONSTITUTIONAL AMENDMSJil
NUMBER THREE ON THE BALLOT
PROPOSED . CONSTITU-
Tl'ONAL AMENDMENT
TO J3E VOTEIM)N AT AN
pended out of State funds for
assistance payments only shall
not exceed Sixty Million Dol-
— W . *
I ices included in the Federal
j legislation providing matching
i funds to help such families
ar.d individuals attain or re-
tain capability for independ-
ence or self-care, and to accept
and expend funds from the
Government of the ' United
States for such nurposes in
—— II "
thereon the following:
"FOR the Constitutional
Amendment providing for
assistance to and/or medical
care for the: (1) needy
aged; (2) needy individ-
uals who are permanently
and totally disabled;' (3)
needy blind; and (4) needy
medical care for the: (1)
needy aged; (2) needy in-
dividuals who are perman-
ently and totally disabled;
(3) needy blind; and (4)
needy children and the care-
takers of such children; au-
thorizing the Legislature to
cooperate with the Govern-
. PUBLIC NOTICE
Proposed CONSTITUTIONAL AMENDMENT
NUMBER SEVEN ON THE BALLOT
PROPOSED C O N S T ! T U-
TIONA I A M K N D M E >. T
TO BE VOTED ON AT AN
ELECTION TO BE HELD
ON NOVEMBER 2, 1985.
SENATE JOINT RESOLU
TION NO. 7 proposing an
Amendment to the Constizu-
tion of the State of Texas pro-
viding for the exemption from
loea! ad valorem taxeg of the
One and One-half Million Dol-
lars ($1,500,000.00); and, fur-
ther provided,
"(2) after such exemption
has been in force and effect
for one full calendar year, the
amount expended for free hos-
pi:ai and/or medical care,
within the State of Texaj,
amounts to not less than One
q| M:!'!Eiifhi. Hundred Though
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Waggoner, William J. B. & Waggoner, Cecil O. Claude News (Claude, Tex.), Vol. 76, No. 1, Ed. 1 Thursday, August 19, 1965, newspaper, August 19, 1965; Claude, Texas. (https://texashistory.unt.edu/ark:/67531/metapth355895/m1/3/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Richard S. and Leah Morris Memorial Library.