n of the Board, I derire to on the following quemtlon: deeoribed SlDNIiXAU CtXWrY, TFXAS, FUNDING BONDS callable under the 14 7&S, Rswised Statute8 of Texem, These rerunding bond8 of 1987 w4r4 188ued undar the provi- 1WM. laid art1014 i8 lion8 of Article W5, iierifded Civil 8tatute8, 192s. 80 i8 a paFt of Chapter 8, Title EB, Revised Clril Atatute8, Artlola 7%?0, Hevieed Civil jltatutao, 1985, which read8 a8 fOllOW8r *2 "~11 bonds laaued udder thla atmpter ah4ll run

not erceedln$ forty yaartv, and aneg be redeoxable at th4 ple48uro of the county 4t any tlae after tire year6 after the. issu~ce of the bonde, or after any period not exceeding ten yeare, which sag be fired by ths comiesionere court."

-at1014 728, afOr48aid read8 a8 rOilOW8:

Where bond8 have been legally 18rue4, or may be here&tar laeued for any purpoee authorised in thi8 chapter, new bonda lh lieu thereof bsaring the 8a.m or a lower rat8 Of int4r48t may be 188U46, in oon- formlty with existing law, and the oomir81oner8 court may 188ue such bonds to matur4 84rielly or otherwise, not to exceed forty year8 from their date."

OILT jtate iiuprem Court held in the aa of Coohrau County v. idann, 17% ;j. 'Hi. (Ed) b889, that all bond8 ieru4d uhd4r Chapter 2, to the provision8 Title ZE, tievised Civil Atatute8, m5, ar4 subject or 8aid hrtlale 7%0. Said oa8e also hsld that wlr at th4 tlam the bonds are isoued the oomni68ion4r8 court doe8 not evldeuae it8 8leo- tlon a8 to wh4n the bond8 may be redeeaed, they automat loally beoome redeemble at any time after fire yearrater the la8uanoe thereor. But the 0031ai881oner8* oourt, if it eleotr, may poetpans the bat4 after whloh th4 bond8 xay be rede4ned to not exo4edi43 ten year8 from the (Uuotatlona are from ths Sum date of their lesuance.* Court oa84 0r Bextir County v. Y4ller8, Attorn8y General, 178 S. W. '(2U) SOS). In said Bexar County 0444, th4 Court further held that since Article 7136 is a part of the aa.zie chapter contalnlhg rlrtlOl4 7e0, all rerunding bond8 iseu4d by virtue 0r Article 785, arm gl'bjeot to the provision8 of fiArtloIe 780.

ue buve 4xatined the bond reoord in the State COmptroii4r'8 Office covering the bond8 involved in your inqutrY. Cur 4xa&mtioh r4Vttal8 that the Coml.8elon4rs 1 Court of 2Jtonswal.i County failed to elect to postpone th4 date after whiuh said bond8 ;aay b4 rede@neQ to not sxaeeding ten year8 from the date Of tb4lv is4uahce. Conseque:ltly, *3 gjtate a0k4rd 0s Sklucrrtion, p,rM 3

,,, &1 unliquldated bond8 of the 1997 issue are now outstanding for mr4 tiian five pars after their issuance, ea.- em n0w r4awmable at tie pleasure of the county.

tie ala0 f3nclos4 ror your iatormtlon in thl8 oonneotion, a 00~~ 0s our rorm4r Opinion No. 948879.

V4ry truly your8 / ,' L. ff. P14W8Z1.n A88i8ttInt