OFFICE OFTHEAmORNEY GENERAL OFTEXAS
AUSTIN
iionornblaAlbert J. alteon
county Attorney
Trinity Gouuty
Groveton, Texas
Dear Sir:
opinion No. Q-B969
Bet Can the OoamlsaAonen' .Gourt
of Trinity Gounty pur6ham
U. 8. Dsfenao Bond~rlth the
pemW school fund or the
tOUr r606llt lWQl66t tar 6ll.4QiUiOll Of this DOp6rf-
ment upon the above rtated question has hem rwoited.
We quoterrm your letter a45 iollow8;
%icoe the interest OCRXJ.'5.Defense Bonds oamot
be oolleoted anauallp, it is my opinion that thW;Last
olause in Art. S&34, R&A., rhtoh made in b~llous,.,
. only the.iatersstthereon to be u66a and ~erpenbsd
a&&p, may~piwhibltthe oourt rmia purehaeing these
bonde.'
The permenent eohaol iund~ls provVbd for in
Seotiona e and 6 of Artiole VIII ct the Gonstitutlonof T6xa.8.
section E, Artlole VIII, reads tm fo~llowst
Boaorable Albert Jr liuteon,page 8
"All funds, lauds and other property horetorore
set apart and appropriatedfor the BU port ot pub1l.e
sehoola# all the+lternete seations 0s 1-a rwez’vod by
the State out of grant6 heretoforemade or that may
hereafter be made to rallroadaor to other eorporatiens
of any nature whatsoever2 one-half of the publie dmah
of the State: and all mma OS money that say ooam to the
State frolathe sale of any portion oi th?'eam, shall
oonstitutea perpetual publio aehool fund,.a
Seotion 0 or iirtiou.3 vxn Lwdtt lnpart aa rouar8t
"All land8 heretotore, or hereafter granted to the
sersral ccouatles of thiisState for e6uoatiomal purpoaea,
are or right the property of *ala owatiea ranpeetivol~,
to whioh th#y w#r# gran$ed,Andytitle thszeto a# te&#d
in said oountles, and no adr%ree pooaasrionor UaUat$on
stud1 ever be available agaiusC the title of w hunty.
Eaoh county my am11 or dlspoae oi Ite land8 in'wbole.
orin part, 13.manor to be prariat3a by the 13oraimlssionbm*
oourt of the county. . . da wtm, w tbitp~6wiit
theeof, when sold, 0hall be held by uaid.oouatissalono
ao ‘a trust r0r the betmrit or pub110 #ahtwl# th@reSal
said prtq&as ~$0be inwbstod ia baa&+.of tlb~+3&41d~6kteo,
the Btate of Toxa#, or aixuitiarIn'#aiQ S$a*, iw ~3.81 #u#h
other axwrltlee, and au&$ 8uOh k#atri#tSoa#as may b#
prasoribedby lawt #nd the sounty .rhallbo vo8panslbLe
for all lavestmentrr; the interest~thereon,and other
revenue, eroopt the prlno~lpal #ball b# #Tail+b5# f~%Ir.~
we think the laIguag# Of S%Otion 6, A%%iOlO VIII,
Ss plain and unaabigucus. It lmys'thtd th% prooeedr IroE the
rala oi mhool landr, whloh Is pormuont school.iyid -or,
are "to be inreefed in bonds of the United St&tea, . . . u&Or
such reetrlationsas may be pmeorlbed by law.",
That language olearly~seaae~theiti.SouUty lnayitlV*st
ita pennanmt sohool fund in bonds or the United utaaesI ~L00s
(as stated in tho case of BoyrIstunV. Ro6kw&11 Gounty, 84 SO r. aTee)
t&ho~gislature has thrown restriot,ioae a.xouud.th@kl%Yeebanak
me only language thfitwe,oan find in the Btattitea where* **
Le&slature has said how and whero this sonsy sbwu be invested
j.8 Artiole 2824, Vernoa'e &uuotatmd CirLl SOatuf4B6,
which wade
es ?ollowsn
Emorable Albert J. Buteon, page 3
“.i%Ch OOinty 5~3)’ s&i 01’ dir;>OSe Of h1ld5 granted
to it i'c;reducatSona1purposes in such manner as nay be
provided by the cozuzfsslonere ’ Court of suoh oouxty, and
ttieproceeds of any sue11snle six41 be invested in bonds
of the Tinted Sates;the State of Texas, the bonds of
coiinties of the State, an6 the independentor coIp;oou sohool
distriats,road preeineta,drainage, irrigation,navigation
and 1~60 di8trlote in thl@ State aad the bonds of inoor-
pooratedoitioa, and held by wh oouaty alone ae trusts
for the bsneiit of publio fr&a sahools therefn, only the
interest thereon to be used aud expended annually.a
This eeotion reiterator that this aoaoy shall be
invested in oortaln bond& inoludlns bonds of the United Btate6.
we do not thiaprthat thi8 is any rortrlotionor llmitatlona6
:#~ to what United S8ates bond@ may bo bought. We do not think
that the lart alaUSe Ot Ardl01d S?eBl, .mpra, i~~entlonedin your
_'L latter, ilrauy l&aitatronor restriotlonas to the typa of
Unlted~sbates bonds that may be bought. Apgarently it VUJ
the intentionof the Legfrlature. that the perataaent sohool
fund, it80ir, oould not be exrpendea, but only lnterast thereon
ooula be mea an&orpen+d. Therefore, It fs our apinlon
i.,, that the oonusissloaers~+rt say In its dlsoretlon, 16gal4
;‘,‘,
pureha8eU. 8. DofsQse B&ads with the ~sriuanentaehool fund
#b.~ of the oounty.
~,.~.
: Trusting that tb for6gotn.g +lly qntmers your
l.n&ry* Wb al?*
Your5 very truly
ATTO2NFX GltlT.8.8
OY TSAS
/&Ji.deu-
BY
Ardell W.lliams
Asslst&nt
AwaAm