Untitled Texas Attorney General Opinion ( 1957 )

Hon. Earl Rudder, Chairman Opinion Number WW-2 Veterans' Land Board Austin, Texas Re: Will it be necessary to amend the Veterans' Land Act in any way before the recently authorized $100,000,000.00 bond issue or any part thereof may be Dear Mr; Rudder: issued by the Board? Your recent letter questions whether the Veterans' Land Board may proceed to issue bonds under the provisions of Article 3, Section 49(B) of the Constitution of Texas, as adopted Novem- ber 6, 1956, or whether it will be necessary to amend Article 5421(m), V.C.S. It is, of course, elementary that bonds or other negotiable in- struments of 'the State'mag not be issued without express statu- tory or constitutional authority. This constitutional provision supplies that authority when it says: "The Veterans' Land Board may issue not to exceed Two Hundred Million Dollars ($2OO,OOO,OCO) ,, in bonds or obligations of the State,-of,Texee,`` k . Article 54,21(m),Section 3, had, pureuant to the former provision of the Constitution, authorized $100,000,000 in obligations. T,he Constitution expressly su~persedes-the,~statute when it says: "Such .bonds (refe.rence,,to $200,000~,000)shall be executed by said Board ,as,en.obligationof the State of Texas in,such,,form,denominations, and upon such tern\sas ar,enou provided by law or as may hereafter be provided by law." Again, the Con.stitutionstates: "The additional bonds herein authorized may be sold in such installments as deemed neces- sary and advisable . . ." Ron. Earl Rudder, page 2 (WW-2) Article 5421(m), Section g(a), also provides that beginning December 1, 1959, moneys shall be set apart for the payment of interest and principal on the outstanding bonds. This provision is carried forward by Article 3, Section 49(B) of the Constitution of Texas. Article 3, Section 49(B) also provides a similar date for the additional bonds therein authorized, namely, December 1, 1965. It is a new provision, making specific reference to the additional bonds,and is notin conflict with Article 5421(m), V.C.S. You are respectfully advised that a reading of the constitu- tional provision, as a whole, and particularly the above quoted provisions, demonstrates the amendment is self-enacting and the additional bonds may be issued without additional le islation upon the terms and conditions specified InArticle 5 &21(m), v.c .s., as modified by Article 3, Section,49(B) of the Consti- tution of Texas. ..' 'SUMMARY ' The provisions of Article 3, Section49(B) of the Constitution of Texas, are self-executing. The additional $100,000,000 of bonds may be issued without further legislation. Very truly yours, WILL WILSON Attorney General Elbert M. Morrow Assistant EMM-s APPROVED: OPI BY