Case Information
*1 OFFICE OFTHEAmORNEY GENERAL OFTEXAS
AUSTIN
iionornbla Albert J. alteon
county Attorney
Trinity Gouuty Groveton, Texas
Dear Sir:
opinion No. Q-B969 Bet Can the OoamlsaAonen' .Gourt of Trinity Gounty pur6ham U. 8. Dsfenao Bond~rlth the pemW school fund or the tOUr r606llt lWQl66t tar 6ll.4QiUiOll Of this DOp6rf-
ment upon the above rtated question has hem rwoited.
We quote rrm your letter a45 iollow8; %icoe the interest OCR XJ. '5. Defense Bonds oamot oolleoted anauallp, it is my opinion that thW;Last olause in Art. S&34, R&A., rhtoh made in b~llous,., . only the.iatersst thereon to be u66a ~erpenbsd a&&p, may~piwhiblt the oourt rmia purehaeing these bonde.'
The permenent eohaol iund~ls provVbd for in Seotiona e and 6 of Artiole VIII ct the Gonstitutlon of T6xa.8.
section E, Artlole VIII, reads tm fo~llowst
Boaorable Albert Jr liuteon, page 8
"All funds, lauds and other property horetorore set apart and appropriated for the BU port ot pub1l.e sehoola# all the+lternete seations 0 1-a rwez’vod by s
the State out of grant6 heretofore made or may hereafter be made to rallroada or to other eorporatiens of any nature whatsoever2 one-half of the publie dmah of the State: and all mma OS money that say ooam to the State frola the sale of any portion oi th?'eam, shall oonstitute a perpetual publio aehool fund,.a
Seotion 0 or iirtiou.3 vxn Lwdtt lnpart aa rouar8t "All land8 heretotore, or hereafter granted to the sersral ccouatles of thiis State for e6uoatiomal purpoaea, are or right the property of *ala owatiea ranpeetivol~, to whioh th#y w#r# gran$ed, Andy title thszeto a# te&#d in said oountles, and no adr%ree pooaasrion or UaUat$on stud1 ever be available agaiusC the title of w hunty.
Eaoh county my am11 or dlspoae oi Ite land8 in'wbole.
orin part, 13. manor to be prariat3a by the 13oraimlssionbm* oourt of the county. . . da wtm, w tbit p~6wiit when sold, 0hall be held by uaid.oouatiss alono theeof, ao ‘a trust r0r the betmrit or pub110 #ahtwl# th@reSal said prtq&as ~$0 be inwbstod ia baa&+.of tlb~+3&41d ~6kteo, the Btate of Toxa#, aixuitiar In'#aiQ S$a*, iw ~3.81 #u#h other axwrltlee, and au&$ 8uOh k#atri#tSoa# as may b# prasoribed by lawt #nd the sounty .rhall bo vo8panslbLe for all lavestmentrr; the interest ~thereon, and other revenue, eroopt the prlno~lpal #ball b# #Tail+b5# f~%Ir.~
we think the laIguag# Of S%Otion 6, A%%iOlO VIII, Ss plain and unaabigucus. It lmys'thtd th% prooeedr IroE the rala oi mhool landr, whloh Is pormuont school. iyid -or, are "to be inreefed in bonds of the United St&tea, . . . u&Or such reetrlations as may pmeorlbed by law.",
That language olearly~seaae~theit i.SouUty lnay itlV*st ita pennanmt sohool fund in bonds or the United utaaesI ~L00s (as stated in tho case of BoyrIstun V. Ro6kw&11 Gounty, 84 SO r. aTee) t&ho ~gislature has thrown restriot,ioae a.xouud.th@ kl%Yeebanak me only language thfit we, oan find in the Btattitea where* ** Le&slature has said how and whero this sonsy sbwu be invested j.8 Artiole 2824, Vernoa'e &uuotatmd CirLl SOatuf4B6, which wade es ?ollowsn
Emorable Albert J. Buteon, page 3 Of h1ld5 granted “.i%Ch OOinty 5~3)’ s&i 01’ dir;>OSe
to it i'c;r educatSona1 purposes in such manner as nay be provided by the cozuzfsslonere ’ Court of suoh oouxty, and ttie proceeds of any sue11 snle six41 be invested in bonds of the Tinted Sates;the State of Texas, the bonds of coiinties of the State, an6 the independent or coIp;oou sohool distriats, road preeineta, drainage, irrigation, navigation 1~60 di8trlote in thl@ State aad the bonds of inoor- poorated oitioa, and held by wh oouaty alone ae trusts fr&a sahools therefn, only the for the bsneiit of publio interest thereon to be used aud expended annually.a This eeotion reiterator that this aoaoy shall be invested in oortaln bond& inoludlns bonds of the United Btate6.
we do not thiapr that thi8 is any rortrlotion llmitatlon a6 :#~ to what United S8ates bond@ may bo bought. We do not think that the lart alaUSe Ot Ardl01d S?eBl, .mpra, i~~entloned in your _'L latter, ilr auy l&aitatron or restriotlon as to the typa of
Unlted~sbates bonds may be bought. Apgarently it VUJ the intention of the Legfrlature. that the perataaent sohool thereon fund, it80ir, oould not be exrpendea, but only lnterast ooula be mea an&orpen+d. Therefore, It fs our apinlon i.,, that the oonusissloaers~+rt say In its dlsoretlon, 16gal4 ;‘,‘,
pureha8e U. 8. DofsQse B&ads with the ~sriuanent aehool fund # of the oounty. b.~ ~,.~.
: Trusting that tb for6gotn.g +lly qntmers your
l.n&ry* Wb al?*
Your5 very truly ATTO2NFX GltlT.8.8 OY TSAS /&Ji.deu- BY Ardell W.lliams Asslst&nt AwaAm