Untitled Texas Attorney General Opinion

OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN Honorable TO;P Yaay CountJ Attorney Potter couatf Amarillo, Texan d eapplemntal latter inion ot this dopart- iaent the r0u0w m faotaal Etato- aenta, whioh we opioton x0. 1910, tat8 -~om&roalu, oh -0plniOa dealing :oa..yetl by tha lhrn*~‘s Hat- tha united sate8 or tierloa irotlon ‘or etato and oountf oloalng ior'yoar osamination and in- or the rollowing laatrument6t (1) Oon- he Farmers Nutional Grain Corp. ~6 the rernamat~ (a) Order approvin& suoh son- awry Dept. or the United State8 gorem- onraganoe from Farmer8 ESational War&XI80 to the United Statea ~vsrrunant. {Note; Bar #s~prrrpxms of the opinion requestad herain, the Farmera Xatlonal Grain Corp. and the Farmer6 fatLonal Warehou~o Gorge map be oonsldared as one and tha sama organleation, one being Q eubeidiary or tha othati). Honorable Tom iieay, Page 13 ~Bridlf, the f&at8 In this aa8e are a8 fO11OW8: On June 12, 19.956, The Farmers NatIonal Orain Corp. entered Into a Oontraot to oonvey to thr U. 3. govern- mont all oi It8 aeaet8, ruoh oonveyanoe to bo mado prior to Ootober 31, 1936, (See Sec. J of Xnrtrumont &l), and to be eubjeot to the approval of thr Soo'. of Trea8ury (See Sea. 19 Of 8UCh iMtrUzU.nt). It eeonm that oertain minor ohanger were mado In the orlglnal agamtent, a8 lr ldeno ed by ~upplemntal agraemmt8, 00plr8 of whloh we have sot been able to obtain. However, we unduotand that ouoh aupphmnt-: al agreesont8 do not oontaln any provI8loari altering the origIna agree.oant a8 to any of the 188ue8 to be dieouased herein. h8pite the iaOt that maoh a88,t8 wore to be transferred to the government prior to October 91, l@bd, it 8eema that the Secretar of the hOa8UI'y dib not approve thi8 agreement unti I BoIem- bar 7, 1986, (See Instrument #S) and that no aotual oonvepanoe 0r th6 speolfio property In quretfon Wa8 made until February 84, 1937, (SW Instrum8nt #S). We are aoting under the a88lLoption that the ]rarmore National Warehouse Corp. etill retained title to this property on Januarg 1, lQS9, when the tat lerr wae made, that the governm8nt did not.hare title at suoh tine, and that when the oonreyanoo Wa8 made to the ~oo*ormmnt in Tebruary of lOSO, it took M 8ubJeet to the tax lion ior t6Xe8 lMe88ed against 8ald OOrp- oration. I lpight add that this property wa8 not ren- der86 for taxation by 8uoh oorporatlon, but that an arbttruy ameement wae amde by the tax oolleotof, and that auoh aere88sent we8 probably me,de after the a(orunment aoquired title. Wo do not olaim that the government l8 liable ror the tax88 la question, but do oontenb that there 1~ a lien against suoh p%Wpertf ror unpaid taxes for the year OS 1937. ?,he government Lo threatening to rile 8uit In Iode& Court to clear title to this property anA denies that the State nnd CoUnty have a lien on same r0r 1981 taxe8, for two realroas, to-wit: "1. It is oontended that the federal governimsnt acquire6 equitable tltls by rlrtuo o? the oontraot to oonvey (Iurrtrumant #l), whleh oontraot beoam rrmt- ivo on approval of the Treaeury Department before January 1, 1937, and that even though the government Xonorable Tom Sear, Page 3 had laerely an oqultabla title, the property waa not aubjeot to tixatlon by the State and County. (Not.: The U. 8. attorney ha8 agreed to turnish authorltIe8 to the effect that property ln whloh tha tadaral gov- emugiant has un equitable t1tl.e ia not subjaot to tar- atloll). "2. It is rurther a0ntandad that no lien r0s 8tata and oountp taxra attached to this property beoause the tax88 in question wre not daa and payable until Qot- ober 1, 1991, (ii the oorporatlon had retained title), &ud that under our state law, no lien 18 oraated iOr taxes until aam8 broom du8, and that sinoa the govern- ment aoqulrad title in February, 1997, It aoqulred legal tit18 before any tax lien W68 ore&ad or attaohad to thir property, and that no tax lien oould b8 at- t;;gd to the property arter the gorernmnt aoqulred . We will, themtore, greatly appreolate it It you will advise UB ELI to t& rolloWing matter8t *l. Doe8 the oontraot merked Inrtrument #l oonref equltablo title in thi8 property to tha redaral goverauaent? Ii ao, doe8 the raot that the governmentha8 equitable title exempt suoh property fcoa llabllfty ror state and oounty taxes? w2. At what data or time doe6 the lien tot rtata and oountf tam8 attach to property? "3. In four opinion, la there any akarlt to tha Sovarnsent'8 oontantlon No. 8, whloh is set out on Page 8. of thl8 letter?” The dotcralnatlon of whether or not “Inrtrument No. 1" oonsidered in oonneotlon with *InInetrumentIlo. a*, operate8 as a transfer, a88&MIe!lt or aonrefence t3t the aquit- abla title to the pmperty involved, to the United Statate or Amuloa, depend8 upoa tbo rule8 or oonstructlon annouaoed by the oowts or Texas, browse it is a rundammtal prlnolpla that raal proputf 18 exolu8lvelf subjaot to tha orarmaut w%thln whoaa territory it la sltuat$d ii"5eF . x% . hc. Bonorabie Tom Leaf, Page 4 Although legal title doea not paas to a vendee or purchaser under a oontrctot of sale, until aotual delivery or a deed, without retention or a vendor’s lien therein, said vendee or pumhamer, e8paolally where he goee Into poaee88ion, la lnveeted with squitable title from date or aontraat, or, ln any event, iron date ha takes poaaeaalon, and any fnorment, advantage, or enhancement to the prop- erty Inure8 to hi8 bendit, and detriment,dapraoIatlon, or loss thereto without fault of lithar party muat bo borne by hln. 43 Tex. Jur. 3. 241, 242; 66 C. J. 702-708; Peters Y. Clewnte, 46 Tex. 114; ke8on v. City of fbu8toA, (Corn.App.) 245 S.H. 485, 225 SAY. 756; DImIt Elevator Co. Y. Garter,70 S.W. (26) f315i Ingrem v. Control Bltulithlo co., 51 S.W. (2d) 1067; irluorth Y. Elllaon 29 S.W. (2d) 639; Willie 6: Conner Y. Turner, 25 S.W. (2J) 642s Rirer Y. Janeb, 9 3.W. (2-d) Q&?; Fullerton Y. Sourry CO., 14s 8.W. 971; Bled808Y. Fltt8, 105 S.W. 1142; Slaughter 0. Ooka co., 79 S.W. 863; White Y. Cole, 29 S.W. UAS; Taylor et al v. Barrin et al., 127 S.W. (2d) 945. It 18 6180 nettled by the deofaione’ot the Texa8 oourta and the oplnlone or thIe Department th a t,’ lxoapt In- sofar aa the rule loay ba varied by egreeumnt batwaen tha oontraoting parties or by a retsntlon ot poaaaa8ion b the vendor, the purohaaer will ordInarlly b8 liable for a L t-8 aooruia& atter the ueoutioa ot the oontraot where It la of auoh a oharaoter as to oonstltute him the equitable owner or the property. SS ths purohoaar, titer the oontraot la aa6e, -goes Into po8aeeelon and enJoy the uaa o$ tha prep- ertf, he is liable tar the taxes aCtOrUN during hlr poa8aa- alon, notwithstanding the oontraot require8the vendor to oonvrf by warranty doed at a tutura date. 66 C. J. 1047 - 1048; Taber Y. Stat., 86 S.W. 0Sb& Harvey Y. Provldent In- 748t0ent Co., 156 S.W. 1127; Leonard t. K8tia.U. 5 S.W. (2d) 197; Attorney General*8 opinion 0-226S. Thus, it iollows that ii the attached instant, designated as Ynetruaent No. 1” is or form and eubatanoe, tenor and erireot, to vest equitable title in the real eatate eought to be talEed, in the Far0 Credit iadmlnletratlon on the date thereor, to-wit, Juno 12, 1956, or,, am oontanded by the admlnlstratlon, on November 7, 1996, the data of letter oi Trearury Department approving with ohaagee noted, raid oontraot, which letter la deslguated a8 ~In8trument No. 2-, than 8uOh real estate would not be 8ubjeot to State end OO~tf ad Valor- em taxes tar the year 1937; beoauee, the equitable a8 aontra- diatlngufshed from the legal title, being eubjeot to aase68- mnt for taxes, and said equitable title vesting In en avowed Honorable Tom Jeay, Y&g8 5 instrunentality or agency 01 the Federal Government, prior to January 1, 1937, there wouid probably arise an ianunity fros &ate and county taxation under the Constitution of the United states and iirtlcle 7150, Revised Civil titatutes corU6rrlag eteqtion upon land of Texas, 1925, exjmererrsly owned by the Fader-61 government. However, we do not find it necessary in this opinion to detemlne the preoim question of whether ma1 estato, to which the United %&tern hea equitablr but not legal title on January 1st of any tax year, is aubjeot to state and oounty ad vaiorea taxes for that year; bsoause we are aoniinoed that nInotr~nt No. I”, whether oonaidered alone or in oonnectlon with Qmtrament Ho. 2" does not operate to vest equitable title to the land in question in tha United 3tates prior to January 1, 1937, bu%, on the aontrary, both legal and equitable title on said date rostod in tha Faraera Xctional Grain Corporation, 80 am to be aob- joot to Stats and oounty ad ralomm taxes for ths year 1937. To riaoh this oonoluslon it is neoeeeary to oon- ridor qIwtruaant Ho . 1 ”in itslntlr ety a ndfr o m its fo ur oorneca. H4no4, it la our deelm the3 aaid l.artrumont mnaln aa au attaohed lxhibtt to this opinion and oowlderea as a part hor4of, booauso it is too,lon@hy to ba oopiad h4so5,n rorbat lm. Howovor, we deem it neorseary to rsfer to and sometimes quote pertinent portiona oi said Instrument. La sscticn~.theroor it is 4tat4d that th4 offer or transfer by the Faramra Rational Grain Oorporation (herein- after rerormd to aa the Corporation) to the Farm Cmdlt Administration (heroinafter referrod to a8 AdPliniUtratioa) in payment of or to relleva itself of liabllltisr as OS June SO, 1936, oontemplatsa the transfer of awsta and the reloaee of debts of the aubsidiarlcs ae well as the Corporation, ex- oept suoh asoets as am expmesly reeervsd. Section 2 provides thet all aots under the ooa- traot shall be SrSorcted on or before October 31. 1930, but shall be nade efi”aotlve as of the olose OS busLnesa oa June 30, 1936, and the books of the Corporation and the Qat4rmla- atioa of prorits au6 lose44 therbirom shall be aa of that date. section 9 atipulatea, in part, as follows: Honorable Tom Saay, Pago 6 XB of the close of buaimao on June 30 l036,"k aotually on or prior to Ootobsr 31, l&b, the Corporation shall transfer all of its aasota hold June 30, 1936, or th4 proo44aa theroof, lx o o p t for assets retained as her4lnafter provided, to tha Mralalatratlon, or as ordorod by the Admlaletration, and the Uminiatration shall thereupon 04no41 or N- lI.4~4 the Corporation of all obligations of any M- ture whatooarer of the Corporation to the Admlal8tra- tion except obligations erldencrd by notaa or doou- meats bearing date on or aftor June 13, 1938, and ox- oopt obllgatloaa Sor rhloh the Gorporatloa 8hal.l ooa- tinua to bs liable under the t4rma of this Agr4aDmAt.~ Section 4 provides that th4 Gorporatlon shall re- tain and oontinue to be liable for the payaoat of oortaln daacrlbtd asaeta held and owned by the Corporation at the oloae or buaia484 oa June 30, 1936, at a dotormlr#d prlO4, uuong whloh aaaste wem drafts for oollootLoa, aoaoanta r4- oelvable, depoelte, adYancea on grain, lnv4ntoriaa Of grain, aood, oto., norships ln aommodity exohangoa, offloo turni- ,ture, rlrturie and automobiles, insureno oontraota, end open gralo.contracts, spot or tuturoa. soctlon 5 provides tar th4 retontloa by tha Corp- oratloa of oortaln deaoribed property, laoludlw oertiln real e&ate, at the option either of the Atlmlai8tration o¶?the Corporation, expreeaea in writing before Ootobor 31, 1936. Section 6 provides for the leaelng by the Adfalala- tratioa at the option of the Corporation, of oortala gropor- ties owaod by the Corporation Sor a period OS oaa y4ar Oom- nwnolng July 1, 1936, with an optloa of ronawal for a further period of oaa year on terms and oonditioaa to \M agreed upon aad with an option to pur~hesa+ xaoludoain thi8 property era certain aouutrg elovatora aad 8o.m nlnoteoo ternriaal aud eubtorminal sl4ratore located in Terse, Oklahooma, Ohio, IO- bra&m, Illinois, Kansas, Ylnneaota, Iowa, Waehlngton and North Dakota. Honorable Tom Sony, Fogs 7 section 7 providee that the Corporation, In addl- tion to the lIabllitiea acoruing after June 30, 1936, shall oontlnuo to be liablr and in due oourse pay the balanooa due at June 30, 1936, on All of its lIabllltlas at that date, inoluding the indebtrdnarce to the AdminIstratloa, whleh ahell bo roduord by the aggragato amount of oertaIn deaorlbed ltoma, Ineludlng not.46 and grain drafts paynbla, cuetomre* oradit ba~anoos, aooounta peyable, aocruod grain handling ahargo payable, aooruedllablllty for tame on aeeets retained, and llabillty on olaiaia end open grain ooatraota. AA amount was fixed ior roaor?oa, and it was agrood that if all llabllItlee ror whioh roaervea are set up are not soonor settled,then col~vlanolngwith the year 1937, the CorporatIoa shall oa July 31 of laoh year, pay to the Saoratary or the Treasury, ao muoh of the roaemea, If AAJT, as are no longer raqulrod to meet the maxImum liability of the Corporation for llabll- It&esnot yet eettlea. section 8 provides that In addition to the.amount the Corporation will owe to the United &ate8 of rmerioa on aooouut of faoilltIea retained by it, the Corporation shell on or before Ootobrr 31, 1936, pay to the Secretary of the Treasury aa amount equal to the value of alI aseeta rotaSnod by it under paragraph 4;9saa the sum of all llabllitio8 whloh are herein provided. to be paid by the Corporation Ander~ pare- graph 7, and all raaervoa provided, or #2,500,000., whloihar amount &all bo gmatar. dootfon 0 prorldaa that “the Ad- mInlatratlon ahall on or before October 31, 1936, loan to the Corporation, ror worklag oapltal, an amount equal to the dif- fstent$e between the amount paid the Secretary of the Troaaury under the romgoiag 8ootlon aad $E,500,000., plus auoh addition- al amxtnte, if any, ae may bo aooesaar to brlAg the total working capital of the Corporation to s 6,GOO,OOO., as of fun4 30, 19S6,4 tha amount loAnsed to bo lvlaoaaod by a new noto sf the &%rporatIon, dated June 30, 1936, payable quarterlr, the unpaid principal bahxe on ouch new note to finally mature on June 30, 1946; to eocure said note a new FundingAgreemoat is provldod for, dated as of June 30, 1936, to euporaede the present funding agreement but alm.l.larthereto, and providing that upon default in payment of’ Interest or prinoipal, the AdmiAiatrutIoa ehell hare the right without notioe to acoel- erato the maturity of the entire lndebtednees. Honorable Tom deaf, Page 8 Section 10 provide4 that the Corporation ahall on or b4for4 Ootob4r 31, 19116, oau44 it4 original 4took- holder4 to oontrlbut4 at 14a4t $3,000,000.00 to the capital stook of surplur, aooount of th4 Corporation, ths pr44mt outetandlng rtook and new 4tock to b4 allooated arid 18eued on a b4el4 prorid4A therein. Loans to etook holders for th4 puroh484 Or 4uah 4took are proribed by S4otion 11 from the A~i6tratiOn, MA prorleion 14 m4d4 for the lxeoutloa end peymnt of notes therefor iaaturlw as late a4 1946. Seotlon 12 provides that ths Corporation shall. retain one-eighth oenf per bunhe out or the marketing proaeede or grain up to end lnoludiog fun4 30, 1936g one- fourth osnt per bunhe to and lnolading fun4 30, 194Oi end one-hall cent per buehel to and inaludlng June 30, 1946, ~14 retain8 to be addltlonel oollatsral for the note4 of the regional4 to the.gMnl4ttatlon, with sp44lflo prorlelon~ for the applioation of 4uoh payments. Seotion 14 mvld44 that the AddniStratiOn will loen the CorporationP3,000,000.00,evrfdenoeii by no840 ma- tUdll6 Jtdy 51, 1939, to be paid from the $3,OO0,000.00 re- oelted from its regional atoakholder4. 84otlon 13 provide4 that the Umlnlatratlon ahall, a4 proqtly a4 porslbla and in 6114 00~~44, re4ommnA to th4 Seantary or Treasury the 84oeptenoe by him of .th4 eettl4iwnt and roarraugrmnt of fh4 lnAebtadne44 of the Corporation, n44- eseary w a4 to permlt rlnal perroreanoe of 4ll of the act4 provided to be performs4 in thl4 agreenmnt, a4 of the 4lo4r of bueine44 on June 30, 1936, but eotually on or before Oof- ober 31, 1936, exoept a4 to aooounting end any aAj@4tnmnt4 thet may be neoeeeery in oonneotlon therewith and any other obligation4 or undertakings whloh by their term4 extend b4- food that date. 8eotion 16 prorid that the llablllty on Oapital stook oontrlbutlone au4 note thueon shall oaly br- 00144 erreotioemh4n the approval or the Seoretary of the Trea4ury is obtained, and SacMon 19 provider that the ent ma44 upon lenA4A property shnll be a epeoiaf lien thereon; and all property, both real and p4reona1, belonging to any delinquent taxpayer 4hell be liable to seizure and sale ror the payment of all the tax- es end panaltlee due by euoh delinquent; and such property nay be sold for the paymnt of the taxes and psnaltlee Au4 by such delinquent, under euoh regulation8 a4 the Legielature &my prOTlA4.~ (jSmpheele Ours) ArtiOle 7172, RevleeA Civil Statutes of Texas, 1925, la Aealaratory of this oonetltutlonal lien, and prov1488: "All taxes upon real property shall be a lien upon euoh property until the earn4 shall have been paid. end should the aeeeeec~ fall to ee4eee any real estate ror any on4 or more years, the lien shall be good for every y4ar that he should fall to aeeeee for; and he'may, in llatlng property ror tax48 any year there- atter, aeeeee all the beok tuee due thereon, aocordlng to the provisions of this title." &tlolo 7151, K.C.8. of Texas, 1923, proTlA4e in pert as roilowe: *All property shall be listed for taxa- tion between January 1 and April 3(i of eaoh year, when required by the ameasor, with r4f- erenoe to the quantity h414 or own44 on the .flret day of January in the year for whloh the property le required to be lleteA or rendaml." No eyeoiflo tlrue being fixed in the Constitution or 4tututae ror the attaohment of the ad valorem tax lien on land, resort muet be ha6 to oeee law for the 4OlUtlOn or thle oontrolllng faot. Honorable Tom Seay, Page 14 The curly o&se of Cruger v. Clnzuth, 3 Willson, Tex. ir. Clv. Cas. Section 24, under oonstitutlonhl and etatutory provlslons substantially similar to the ones now govsrnlng, ha16 a8 follows with rererenoe to the time for the aoorual of this lien: RUnquestloneblp under th@ provisiona or the laws olted, appellant, being the owner of the land on the 1st day or January, l&32, was liable person- ally for the tars6 thereon Zor that year, though t&e amount of suoh taxes wa8 to be subsequently asoer- talned, and though oolleotion oould not be made thereof before October; for the law expresely pro- vides that the taxes shall be oharges against the person owning the property on January 1st. From thle it follows that appellee Mnnuth was not lla- ble personally for the said taxes, he not having beooma the owner of the land until after January 1, 1222. This being true, we think the lien provid&d by the Constltutlon attaohee at the time the lla- blllty 1s rlxed by the statute, and la an lnoumbranoe upon the land though the amount or the taxes 18 not then fixed an d determined. . . . Under our eystem the tax is levied on the 1st day of January of laoh year, and the assessment 1s made as of that date, although the rendering or listing and valuatlon ot the property 18 in fact subsequently made. The evtdenoe ln thls aase shows that the etate and oounty taxes wsre an lnoumbranoe upon the land when oonveyed by appellant." This deolelon is followed in the oase of Carswell & Co.mpany '1. Habberzsttle, 87 3.W. 911, wherein the court said: "All property owned by a person in this state on the 1st day or January cruet be lleted ror taxe- tion between that date and June 1st of eaoh year; ad, notwlthatandlng tho taxes do not bsooa due until the 1st day of October following, he is personally liable for the taxes. of that year, though he sells~the property before the amount of euoh Honorable Tom Seay, Page 16 taxes has been ascertained, an4 before the paysent thereof becomes due. Ii not paid on or before the 31st day of January of the suooeedlng yesr, a penalty of 10 per oent on the entire ampunt of suoh taxes aoorues. To meoure the payment of taxes and penalties, the Constitution provldee that ‘the annual assessment made upon landed property shall be a speolal lien thereon, and aLl property, both real end personal, belong- ing to any delinquent taxpayer shall be liable to seizure and sale for the pay;;lentof all the taxes an4 penalties 4ue by such 4eiinquent.’ Article 8, 1 15. This lien attaohes and ths taxes beoome an lnoumbranoe on the land from the date llablllty is fixed on the owner, which 1s the 1st bay of January oi the year, although the aluount of said taxes is not fixed and de- termined until txolas tirW subsequent thereto. It tollows that the tax88 due by apjellee@s lntest- ate for the year 1900 on the land sold aypellsnts were an lnoumbranoe on said land when oonveyed, and remained suoh until paid off by them, ln June, 1901. Cruger v. Cinnuth, 3 Allison, Clv. Car. Ct. App. 1 84; Almy v. Hunt, #S Ill. 451 Rundell v. Lakey, 40 N.Y. 614.’ In the oase of Sate v. Barmer, 59 S.W. 541, the 8uprems Court of Texas, ln construing this constitutional lien held, at first view, oontrary to the above deolslons, in stating: “The state olalao no personal llablllty on the part of the detsndant, Farmer, for the taxes, but asserts that Farmer bought it subieot to the tax lien on the state, and seeks to onforoe the llen upon the land itself. Artiole 7, I 15, 0r the oonstitutlon reads as follows: *The annual assees- ment made upon landed property shall be a spealal llan thsreon, and all property, both real and personal, belonging to any delinquent taxpayer shall bo liable to seizure an4 sale for the pay.xent of all the taxes and penalties due by suoh delinquent ; end suah prop- erty may be sold for the payment of the taxes and penalties 411s by such delinquent, under suoh regu- lation as the legislature may provide.’ The lien of the state, under the provisions of the Constitution, Honorable Tom Seay, Page 16 arfses out or the assessment of the property, an4 does not exist until that assessment Is made. It 1s the assessment made annually by the offloers of the state, un4er and in aooord- anoe with the law, which holds a lien upon the land. The word ‘assessment,’ as here used, evl- dently means the sum wbloh has been ascertained as the apportioned part of the tax to be charge6 against the partloular pleoe of property; but under our oonstitutlon, an4 the provisions of our statute, the word embraces more than s,lmply the amount, and inoludes the procedure on the part of the offlolals by whloh the property is listed,valued, and finally the pro rata de- olared. Clegg v. State, 42 Tex. 610; . . .v However, the ‘issue before the court in State .v. Farmer, supra, was the exlstenoe of this lien, under an assessment, invalid because of a defeotlve desorlDtlon of property, rather than the time for the attaohment-of suoh liens. Therefore, we 4o not believe the quote4 1 uage shouf4 be extended to mean that the lien does not?:- taoh until such t&w as all ttatutory duties of the assess- or are performed and the anmunt of the tax rlna.lly oomputed. The oourt was merely holding that.8 lawful and valid assess- ment was a prerequisite to the existence of a lien but was not passing upon the time for the aoorual thereof. That it was not the intention of the Suprems Court to overthrow the deolslons hereinabove discussed, holding that the lien at- taohes as of January 1st of the tax year, rather than on. the date of the aotual vassesament,w 1s lodloated by the approved judgment of the Commlsslon of Appeals ln the oaso of ~lsslon Independent Sohool District, et al v. Al?UstrOng, 222 S.K. 201, wherein sol4 oases were olted with approval, in determining the time of attaohment of the lien to se- oure taxes of an independent sohool district. It 1s our oplnlon’that the Farm Credit Admlnlstra- tlon did not eoGuire title to the land in question, either legal or equitable until February 24, 1987, and that said property was oharged with an4 subjeot to a oonstltutlonal lien to secure state and oounty a4 valorem taxes for the year 1937; an4 that said lien attached on January 1, 1937, Honorable Tom tieay, Page 17 despite the foot that the assessment of such taxes was made subsequent to the aoquisltlon of title by the Farm credit Admlnlstratlon and did not beoome due an4 payable until Ootober 1, 1937. Trusting the foregoing fully snarers your lnqulr- lea, ws are Yours very truly Al'TORNfsyQENmL OF T&ICAS BY