Case Information
*1 OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN
Eonornble Caorge E. Sheppard
CO~iptrOller Of TubliC AOOOUntS,
Austin, Texas
bear Yr. Sheppard2
'Your letter of F
tained the loss e Tabesoo Inde- xes rixponsibie nent Sohool. &md Legislature shall not have power to to pwohssors thereof. The Con@- ve'st the proceeds of such Bales, heretofore made, as i3ay be direoted by the Board of Education herein provided for, in the, bonds of the United States, the State of Texas ,' or counties in said %ste, or In suoh other seourities, and linder such restriotions aa may be prescribed by law; and the State shall be responsible for all in- vestmnts. *
,
.
uonorable George ?I. Sheppard, p>:Se 2
%e am not advised as to the, so&e of the money that was invested iu the Tebesoo Indopendent School bonds. The constitution81 prov!sion abova ouoted makes the State responsible for the 5nvestinont of all obtained from funds tho salo of the publio free school land. If tha funds that wore invested in se5d bonds oaze from suoh source, then the State Is reaponslble for said investment.
In no tkmt, however, could this loss be charged against the general revenue of the State vilthout an appro- priation speoifioally mode by the Legislature pose, and you would not be outhorizad
for such pur- to take money from the General :?evenue Fund snd cover this loss of the yer- nanent School Pund w5thout speclflc approprletlon end ’ authorization to do so Srom the Le&laturs.
In vieu of the fact that this fund oenuot be re- plentished except by the direct end positiive approprlatlon by the Legislature, it may not be~ncoessory to determine its orlglnal souroe.
George i?. Barous Assistant