OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Honorable B. Edward Johnson
0ouJlty kttorney
Hood county
Granbuty, Texas
mar sir:
we quote the roll
83,1941, requesting an opin
Wofns two and a
round it ne00aaary to
way for the oonatruotl
fore massa e warrants or
bonds to fin
entered into 6 oon-
w, who egresd to fur-
purely to the faot that t&s bonds are more market-
able than wfirrant6, even thou& the nature or
the eeourity be essentially the same.
*During the enming t-e, the Investment
tlrm hee received two issue8 of re-iundlng bonds
Honorable H. Edward Johneon, Page ,2
and are currently canpletlag the matter by the
lasuance o? one additional bond issue. ?ha me-
chanlce of each operation have been essentially
the ame, In that the county first authorizes
the Issuance of scrip warrants and time warrant8
to fund such acrlp. The county purchases the
right-or-way, making papent for same by means
of a scrip warrant, which warrant la purchaeed
by the Investment firm at face value, thereby
providing the actual money to the seller o? such
right of way.
*AS holders o? the script warranta, the ln-
vestment ?lrm, then makes an exchange with the
county for the prevlouely authorized time warrants
and thus the pqO6r becomes more bankable. Shehen
suiilclent tfne warrant8 have been lrraued, tbo
oountg authorkee the 18suanoe of refunding bonde,
which bonds are then exohanged ?or the time war-
rants whloh the lnlielrtmentfirm now hold, and tha
rlnal rorm o? this finanalag Is then completed.
The rerunding bonds mature serially over a period
of years, and a8 same mature, are SInally paid
by the oounty. Maturity o? these bond8 will pro-
bably run to SIrteen yeara for the longest, and
up to the premnt date $l,ZOl.O5,in reiundlng
bon&e haa matured ena bean pald by thi? 00tanty.
"The county treasurer a? thle oounty i-e-
celvea 1% on all receipta and 1% on all dlsrburse-
manta of moneys for the ocuntg.
"Under the cirocmetanoee aa outllned above,
what ?aea,.l? any, would the oounty treasurer
be entitled to?*
The order of the commiasloners~ coUrt ?ixbg the
commlsalons to be received by the oounty treasurer o? Hood
County, 113made pursuant to Article 3941, Xevised Civil
Statute&, 1925, which Article FeadEz
"The oounty treasurer shall receive com-
mlgsio~e on the moneys received and @d out by
him, eald oommleslone to be rhea by order o?
Honorable A. Edward Johason, Page 3
the oommlealonare court as follows! For recelv-
ing all moneya, other than echo01 tunas, for the
county, not exceeding two and one-half per cent,
and not exceeding two and one-half per cent for
paying out the samei provided, that he shall re-
oalve no oommlaeiona for reoeivlng money rrolp his
predecessor nor for paying over money to his auc-
oesaor in office.*
Acoordlng to our interpretation 0s your letter,
your question ie chiefly oonoarnea with the one per cent
(1%) on dlsbureements 0s county tunas. should we be inoor
reot In thle, the language of the statute authorizing oom-
mlrlrlone in coaformlty with whloh the treaeurerl# commlerlona
are based, alluRing the peroentage "on the monsya received*
and "For receiving all moneys . . . tax the county," ia plain
that upon suoh moneya~~belng reoelv6d; and only when reocrivod,
authorizes the ounmleaione to be 80 Qharged. Under the above
faots, we oan only a6aume that raid oommi8aloar would be baaed
upon said tax reoelpta.ru?d not upo&the amou& expended by
the Investment oompauy in taking up’said ~scrip or time warrants.
Article ZI, Seotlon 7, o? the Oonstltutlon o? Texas; Baxter
V. Rusk COWS, 11 S. Fj;.(2d) 648.
irs to the canmlselons payabld on disbursements under
the foregoing statute authorloing.the order o? your ocmmls-
slonere* court, lfkewles, the commle8lon of "19 on ell ala-
bureementa of moneys for the county* Is for moneys ~pald out
by hl8P and for "paging out the same.* The treasurer Is not
authorized to charge disbursement commlsalon upon the lseu-
anoe of scrip warrant6 or upon the mere cancellation of 6amo
or of time warranta through replaoemeat or exchange by the
iesuancs or refunding bonds. Upon the maturity of each series
of time warrant.8 or refunding bonda, and their cancel~atlon by
payment from the county treasury, the treasurer may legally
charge hie commlselon on the amount paid oub.
The SollowIng authorities appear to iaupport our
views as expressed her%in: Baylor County v. Taylor, 22 &Ii’.
902; Fanner v. Aranaaa County, 58 6. Y. 607, writ ref.;
Y~cXlnney V. Zoblnaon, Judge, 84 !&ix. 4%Q, 19 S. Vi. 699.
It la, therefore, the oplaion of this department
that the ccunty treasurer la .not autiborieed to charge a bin-
bursemant commiseion upon eorip and time warrants to be later
refunded Into bonds, but may only oharga such oommlssion on
the amount or such authorleed time warrants or boa&t3 as 61ane
Honorable IL iMward Johnson, Pase 4
ere canceled by payment out of the county treasury.