*1 OFFlCE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN
oufuulati+a 8lnkhg fund, *. . l for the nt5.rwmnt of b05iTls arid notoe. . . .”
Honorable J. yi. W,IWWI, Page 23
part of the United States to pay a llup aortain on a date sbrtain, ana for th* paymnt or au0h obligation 5 a-&lag !J!he okiiaf d~atinatlon botwemr, the United fund 1s prcwided, State6 Son% and the United Btates T"raaSWy Rots seems to ba thst Treasury &wads am leeuwl far porlods in exoeaa of five isauad Treasury y6t~a6, w&de lsotfm aire for periods pf war exaeedinCj one ysar an6 not fire yeara, All of the eserntial oharrr&erietlca of a bond are pamnmmd as,wsll by United States Treaoury Rotas aa bg United St~tas Treamry Sondo. It is our bsliof that the 0r ths oonlrtitutlonal. provlslan hi using the tern rramers “BonCs 0r the Unite% StakpP, aid not k&end it in the teoh- niaal sense in whloh it ts umd by the Coqrew to %lsti&ah betmen long tbra ~bUgat%onr aud obl~tionr issued i’or period8 of fmr OR@ year aad not 8xcwdkyg flrr yearae #R the oontrary wo bell~ps bt was inteldo% ta author&w the lnvamtiaoat of the R crrerrmrnt unitirdty Yulld in the obligxMoria 6f tha t&It-ml &V&tea Oovermnb ~oSaom of the essential 6haraotmrlstiaE of a *bond*, m the a~:~pellatLaa uwd by 40rygnf8 En dmmrlblng the