tiona whlc@, lrnture the cuqrent year?

rqad district highway ftind untl.1 the requiremeats of the Sate Board with respect to refunding absll be oomplled with.

“But it ia aleo provided by Subsection (g) of srid Article:

“‘In this ooanection it ia declrred to be the intent of the Leglsleture ~that all contractual *2 Honorable Chfbs. A. Tosch, psge 2

duties arid obll tloas which lpsy exlst between _ Any county a or defined road dlstriat and the ad7

owner or holder of the prese t outstanding in- debtedness of any county a or deiln ed road ml7

district, shsll not be in any smsner disturbed or impsired and &ill remsin lnvlolate.~

"ti! do not question,the powerand ruthorltp of thi State Bomd to require ths refund eligible 'obli#tious rturlng,

we do,qqeatioro the authority of the Btite Board to de- tbit the county attempt to redeem by refuadlgg bonds PIILturing In future. years.

"As you know, the redemption statute (Arti- cle 720) provides thSt such bonds,msy bs redeqst- &ble )rt the pleasure of the county' 8nd that such r,edemjMon %sy be fixed by the Cosm~W~ion- ersl Coq+.t*

Ye thl& it is o,&& d8t the Beard OS 6ouMy and plstriat Rord,Indebtedness &s the ruthotiitip to require coun- complied tiith. $h Court ia ‘both the Goabrra. Co&y case lgwth

and the B&r COpaty *se laba eorstru~d &tia3n 7?9in such a msnaer &a to &b cl&r th*t beads Wy be op!lorUl under the &s regkrdlesk of the iact that the CWUUi.SSi~ik~l’S’ COUrt IgaoFed the slbtute iud attempted to i88uO then to *ture seri*lly lrad without optioq of prier redemption. Zhe Attor- ney &ge&l's D@srtmtmt has held otherwise for the last *3 Honorable Oh%. A. Bosch, page 3

taenty-five yetbra, but alme the 8. eple Court has spoken in such-usmlstakrble UngrBrge, we ah&L *ccept its Opinion and 'Y

follow it.

Pou are therefore advised that in our opinion the State Bdrd of Oounty and ~lst+iat aoad I&debtedsess0m3 the authority to requlTe,+oo~t~es~ to re?m$ Uy bondswhlchrre optionU either ay re%gon of.,h0+?g reserved suoh .option In thtrprOceeding8 rutboriciag t,hqlr iss1P~ce, or by reMion of the of Article 720, &a sonh Article has been coimtrued pr0~i81~8 by the Supreme Cotirt.

Yours very truly ATTORXtY (kRRRjU OF TEXAS