an are retdived by tha TrO.Es~ Of the a6ht Or f-6, did1 StatO8, bd imastad in bode of the Unit-d the state of Teue, or cautltioa or aitfos of this state, or in bosh laat104 by UQ agency ef the uaLtod Oktee uovortmont, tho pqaum~ of the prinolpml l f uld lntsr- oat un whloh ie gttaratxtoad by the UttltOU

8totoo; 6 + 0..

Artio1a 2922-l* seiition %,-of Vernon*~ Civil n*tutes, doelrrer,: aliLl “41 tho rwota of Uetlremant

oyrta mlmll bo arodlto4 reuonling to t&o )urpom6 SOr Vhiah thg 90 held t0 006 (if...

ot sow8 (T) tam&@,' tbutoly, tab Ttmah6r-88vhg mud, the atate siombehhlp Aaamulatlon matar thoka~b6r6Mplnardff~66~6~,th6~6t'- L 86rvloo Anatdty R68ervO Tim& the xntor68t~~

8ttud,th6F6TMtl6ttt~6t~ntad,ra(lth6- . . . ._ =Py-'3t"9~' :

w?li I8ter66t mtkt &er.h6i*?ty aroatdb to to tlio (d Lpcam8t eaoilitate as ol-aaa~ v- otmr futh* ~Ulin66n,'lnaw6t ad alvla0na.s aorlvea from the aepoelt* ama wo6tmmkt8 uttlmrlrad bj tM8 Act am11 -wJ.

pal4 Let-0 the Iato+ot Vu&. Owe a&- year on Augttot alst. lntorost 6baub6 611666a: an8 tratlstorrd to the other fata, re8jmot- ively . rho state iam3 aC Tmrtm dial1 em- @AS O-tot tUt6l~tF666t6rtO theint6F- ert rtmervo aeuaaat of tho shwsnnent Rotlro- rent Stub2 811 osaoa8 qrttlqp ritor ltttsro~t- r b6u'imgtrudil.6a&tb6-p6fmOlhndh6v6b66m..

dalf atwitod eith 1tlt6r60t For tltr year fia ttio mas+r prariaed io ala-Icrt.9

2.. 227 &xbdi.~Ision (1) of Gection 7 of the Teacha’ no- tixW!a%t sy8terP ACta aS 8Eeaddl by the 47th Legh’lrtUro, .Bqgllar stsa1oa (lsll), General L*us* p. 018, rouxa 8s fol- 108mr

*The State Lioud OS Sl’USt608 t&all be the trustees or the rawal tm6s aa herein at-sated by thto Aat, and *ball lwe fall power to ln- vest md relmeot stwh rude subject to the fol- %. loui* iindtatione and rostrictionclt Au retire- ment fuuds, as are reaeived ..Py the Tmmoury Of the State of Texas from cond&utioru of teaah- erm anb anployera as herain provided, may be in- vestal only in bonds ot the tiulted States, tho sit&o or Toxa8, or countloa, or citieo, or salu~ol distriats of t&&s bkto, vh6min s&l L.. aount+os, or dtlos, or sebool 4isWats hsro

mot dehultsd in pl’iaSlp61 6~ betUs 6r ittfsreot of tsq, <ie) a p6rUtl or In wkthltt pars, liotulo Stateo Gavet'a- iuu6& by atq 8#mey 6? the Unlteb payment of mont, tho,.pruclp8l ad ittter~f thoUn%tsb8ktaa;.udl 66Whiahi8&66rsat6s6by stl -ipfereJ8t-~ or bon& OS the m- not60 TOt’O%Xty Of YW iSM6& tlad6F 8d bf riFtU6 6f.’ tegfslatwe,. Ch8pfsr’ 43, Lot0 of tbo Wrtf’-thM moata oallee Seeriam~ ptwldea thati r'rutt%~4mt ~boiui.di'wh8h~lbeMpfenhdto~ tho l.msoal*ti pBp6tlt'~ot tho amount* that

w. ~J.ueoooedoaO~y~ir’~~iatMsIpf.’

TO .ptod PO ~hd&tUt.iOtlS~ P'CbWQtl q th0 &O&818- but-0 may not ensat suoh &oueral #tdOtl, ua .e%tIoo the UlthQgty there. OonForrad 60 weat aa relJlT6ot t!tMh ftim66 by that, Aat, OIL0 Otubb’Sh is t&6 %ttt~te+k~ :Ot’6&tOd* , is our ep+mion.yeur qqatlemdeu~~be.mauer ::

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