Untitled Texas Attorney General Opinion ( 1944 )

615 OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN tionorableChas. A. Toaoh County Auditor Reoords Build- Dallas, Teres uthority of t&8 DDE- Of the. i%&C4UB8COtWt r County v. sellers? And relat8d.mattera.T Hoad and~Bri&w .Uofundiog.Bonds, ed July 1, 1934; uoty aoad and Bridge HefundIng Bonde, Series 1934-3, dated July 1, 1934; and Dallae County Vieduot mad and Bridge ?,oiuM- m BOMB, Series 1935, dated Rovfmber 21, 1935. Raorable Chas. A. Torch - Pago~2 The original bonds issued for road and bridge pur- porea wore vote4 and issued under authority of tho Dallas county Speoiel Road Law, passed by the Logislatum in 1905; The original bonds vo;bd for viaduct road and bridge purposes wor0 votedand im3ued under authority or the kct 0r 1909, authorlz,lngoountiee hovlnF a population of mor8 than p,ooo to vote and Ismae bonds ror tho oonstruotion or oau88- wys and vladuota; Neither the Dallas County c3peoialRoad Law nor the viaduot law .oontalnaany provIsion with r8rOIWOe to the right or the county to redeem any suoh bonds prior to maturity nor are~L$&aprovisions of the GensraL Law, relative to oounty bond& adopted by rsrerenoo to tha @aturitias ix options or payment of any bonds voted and issued under them statutes; The orfglnal bonds issued by Da1148 County oontalned $.athe raos themof an option ot rodmiptlon art8r ten years, and-In 1934 ,and 1935 the Comm18slonersb Oourt raitided a part or the bonds, and iseued tho Reiundlng Bond8 herelnabovo mn- tioned. The aald Dallas Oounty Road and Bridge Refunding Bonds, serlos 193&A*dated July 1, 1934 were Issued to refund rouowlngbonds th8xioutstandlngr ~ti@O Road and Brfdg8 Bondb, Series 3, dated Septekber 10, 19ll, whloh were iseiucrd &ndof authority of the Dallas County Speoisl.$IoadLaw (Ghapter /&, gpeoial &ttWS,Twsntp-ninthL8giSltitUr0, 1905); Yladuat and Bridge Bonds, Saris8 3, dated Feb- ruary 10, 19l.4, whioh w@ru issued undor'auth6rity of chapter 16; General Laws, Thirty-first Logisle- .turo, 1909, and Road and Bridge Bonds, seriss 6, .&ate4 August 20, 1918, which wor8 also lsrued under authority or ths eaid Dallas county Ypaoial Road Law. The aaid r)ellasCounty Road and Bridge RelU&d- ing Bonde, Series 1934-B dated July 1, 1934, wore issued to retund an equai amount of Road and Bridge Bonda, Series 5, doted January 10, 1917, whioh were also laauad under authority of the Dallas County Gpeolal noad Law; ‘. 61'7 pmorabla Ohm. A. Tosoh - Page 3 The mUa ClOWty YladUOt and Brldga ROfUndiWi Bondme dated Rovaabar 21, 1935, ware lrsuad to refund the rollawing bonds thaq outstandingr Visduot and Bridge bonda, Sari48 1, dated Sa$- tambar 10, 1909, wIriohwere issued andor authorfty 0r Chsptor 16, Goners1 Laws, Thlrty4lmt kgld.stura 19.909; Road andBribe Ban&r, Sarier 2, dalmd $a tom bar 10, 1909, which WOM also lmuad underat L rity or the raib Dallas oounty Road law; a& Yladuot snd Bridge Bands, SbJriar2, dated 19019 slro +r8uad banderautJkor Lime,Thi?tY-r&M% Allor uidRepAtUmgB6nds aonlmia the &llti* neital: "¶'hlaBand.ir is&d unbar aad in e~ttiateon- r0xmrLtywith the gonrtitutlon and lawa 0r the stata 0r r4xa8, partiouutrly Qhaptor 163 0r tbt3aneral law8 parsod. by ‘t&o tortydaoond Lo&slatPrs, at tta I Rogubr aoml@n'in 1931,.ula la tuIPUI0~ of @n or&orbily p8rrad:b# the @amire f onam* Bourt ot Mid tJounty*~ OJmpt@ 163 &2na Xagirliture is knowni~~~$ho "Bond and Warrant.&w or 19j&,* and the pertinent portion 0r cmld lay wltbrespeot ts the ~rewnoaor retundingbon&r 1~ cs r0uw6: ~sueh~aoipllpisrtonar~~.Court8 &all have the right ball time5 to iwuo r4ruWng bonds for the rerunding or any outstandhg bond* li&&lAp lsaued~and o+trrtandirq,aatu.red etgart on any 18aa4 ~iseuad outstanding bonds, aDDliasbl0 ,tO the.iSa?MInOuOf &!8imding ba%% without the naoessitg.or any not104 or right to rarerandlrtaa vote.* Wow, the ~uastion.arises aa t8 what laws are apple- aabla to the irsuanoa or ratuwU.ng bOnQ8. ZI ~rtiolos 720 and 725 dare inoludad in tho~ra~enaa in the,quotation abet6 oitad, w5 WOUU have to hol,d~thstthe ,Rarundin$Beads under oonoidara- tiOn WOUU be zabeatafibJ.e et ,thistima, but We al.4rali8Ved ‘..I .: 618 gongrablc Chas. A. Tosoh - Pago 1, from so-holdti for the reason that in 1937, subsequant to the data.or thoae Refunding Bonda, tha ~Lagielatura passed ‘e valid- ating Act, mma being fwnd in Chsptar 95, Aots Forty-rlfth Lagislatura, the pertinent portion of 88988 reading a8 rollowe: uhll aotlons heretofore takan by Commisslon8rs* courts and by,governing bodlos or Cities and Towns in the authorization, axaoutlon, lasuanoe, and dallvary or euoh funding and refunding bonds’and suoh fmding and refunding urarrants,in attampted ,oamplfanoawith the prorlelons,qf Chapter.163, Aote’of JWgular Sao- sion of the Forty-saoond Laglslatura ara ‘horaby val- ldatad and alL.suah funding snd raftmdlng 8eouritias Issued pursuant to suoh ,aotionsare hereby validated . . . .* In Road Dietriot MO. 2~vI .Gtagbry, 120 5. W1 ,(2nd) ‘829 (writ refused); chit .ras.ha5d tiietwhere the ~OOqIiLb*iQ+rg; Wurt iaa,uadbonds oontalnlng a .dJ$forant.option proli&M ,thanthat ;setout.in the ala&ion. prOposit,ion‘ and tha...4agko- Zaturo tharbartar validated the-bond? .~a, +a q?doa authoriz- ing their issuanoa, the'validating~aat had ,tha arreiitor OOA- rirmlng tha bonds as thay wera isrqed and not as thoy ware Voted. It is our opl&n that the izim&lAg Bondr,or,Dai- las county issued w&th s&i61 matur%tlds and without option or prior redemption and issued under th? Bond and Warrant hw of 1931, have been'ealldated:aa lamed .a@ are not re- daaautbleat-thie tlm without the’a+i$Uantoi’tha.holdara.of auah bonda. . . C. P.~Gibson Assistant