HouorablsL. R. Tho5gcron OpluiooHo. O-3&2
County AudItor Bet Exeaptbu mom t8xetion
Abileas , Texan of land bee&d to 8 ool-
140 for the purpose of
Deaz?SlPS erolA* rar*1o*ure or *
no-40 tlmi?aoathe note
and aort@ea h8v& been 8
pabt of tha endowment ruud
of rush ao11age.
Xn ~QUE latter of April 9, 1941, JW. subPit the
rollovillgfl%ctBa
A 0ertai.naoLlagehdlmllIowmceatnmd8loatasdoa
l8ud ma the mortgagor to avoId fOxws&X~ U~eded the &ad
to tha crollqp.
You reQu.atour optulonalito whether rue& oollega
is atitled to bV8 the l6nd thU8 8UQalirdlOXCrmPtfW tUCU-
tloo for a period of tua year8 4fter ml0h ~ofpiaitfoo.
Artme vu[I 800tiooa, 0r the aaoetitutionor
!Paxaraeadoptadiol~f&#awridea %Bprtu r0collou8:
“‘SheL&alature mmy by ~amral le.wtl
rxa#
from taxUiloa. . .rllbulldiagsuee6 0xelu01Vely
U&d 0UWd by ~WSSUS O&F WSO0t*tfW8 Of XStWWW f08
'rohoo1lparpos.8.. .t 81~ th0 d0-w mm 0r 8~~0th
of taarniogl mad rali@m
lustitutlona mot omd with e
V~OP t0 mrzt; uzd U~O the we am fmdbd Lo
boeda OP a0we8 OF la Iand o? other m&mt~ uhiah.
tms beemmd ~l~llhwwft~rbebought lr~by 6uah
kr8tltlAti0laaUJdeJs r0~xorurs sale8 luds to ecrMrQ
QP ~proteatatwhbonds ormor&qer, that rnwb sxanp-
tioa of such lmd and property 8hall continuaoaly
for two yaw8 aftar the pulchasaof t&b sume 8t such
rule by amh LnatiZutloao aailno longer,end laatltu-
tions of plrelp publLa aberity; sandall lawa exaptlng
wqnwty rnis8tarattou other then the property above
mutloaed ~h8.U be null sad void."
Artf.ale 7150, ReV:md Civil Statute8 oi' 2'PeX8S,
deaariber the pxwpert~ vhiob shall be exempt from tMatlw
and saotion 1 tbm0r, as ameadsd Ln 1931, OWtain~ m dm-
ariptkuw or t&a follovln&pmpsrty ea being 80 sxawtr
‘,I
,-
1
Uooom3blsL. 8. Thowson, irge 2
*All -lb aollqes,
6.n ard0m0titfad8 0r or i0am~4
268titutioo8
lad rell&lounot uwd vlth a rlw to pIWritrod
when the nma are investedin bond8 of aOrt64w
end all swh buildingsMed ex01uuriVelJ Uad OVasd
by ~~0848 0~ 8BSIOOf&iOM rOr ld3OOi
Or X?EPrBOO8
provided
p a ip p o ses; that mhw the Wad 01~ othsr
pmperty bar;beao or 8ha11ham~Ste~ be bm&ht la by
maoh l.nstltutloMuader formlorure sales lade4to
ntlafyor proteetboadsormortg~e8 in&Ash said
andoumetttSssstdnMaintwted,tht such aa?ttiw
of nrab m$ Md pcOW#FtJ8hRIl cKlm&Ue'fOF tU0
Y-W tit* th4 plrahu0 0r tw .e at 8w.h -10
by suoh bstitutiolrs aad QO longor.' .
A readlag0r the quotadaoastZtutloe8l ml sktu-
torJ pmvlBltulB shows s osry derlnlte latsOt100to Mait 8nd
.aurtaIlthe exaagtionoS suahaddaassotfUad~Oncettw smm
tmve bada owvsrtsd into lund. .Blidsntlythe thoudhtmr to
hap 8t 8 mlnm tk* amount of lunar rwlarmln fraa tu8tlas
by XWMOSI 0s dOOi OUUSPS&~P. It If88 ~~4Of~9d that &f
ouch ehdmmant Smdo shouldbe lnvwted irrbonds or aortsams,
vlth lmd ss the ssourlty,the ultttorte resultwould bo thst
oa &aae owaoions the~oolle&swould ba fomsd to sm&re the
swurlty in prpper41~akl4us~~ OS sod jmatecrt%n8thew-
mat funds. Tbns it oas mount to pecwsotthe oodovment fund
rrar tuatloa so .long essdm0.d bo lnvostad
it lrs bonda or
morQpge8 and in the evsut lt should be owem~ry for the
potaotloo or the Simd to OonPert it into land tkan it lI8a
latadbdto plrplt the lniltltutlonto bava ansrsooclblo but
oapsrstlvely shorC pru'kidof time idthip-ubtah ti~dlspose
0r tb land berow uiw •0~3d am agala 8ubj00tto kxa+ ~:
the
the CoPstltutLorr snd ststute~liplted
land or ottm sawarty tw@rd lurdor
r0mi08w url08. “~ Vlelfedirolt,tha etanapolat0rtho s?ke.
md oountriod Ot$Wt’tU~ bodti tl+ voluntarydeed- or " ~'"L
tha land to, the mo~ee %S I QffYemt pm%eedZag ina a
r0mi0t3ur0 tbd.4~~~ mia*r the row w--aw tkid &=rtles- ,;
\ la vhoas baad~ tko'pwo rty wuld be tuablo -am aot ~glvoo ~.
& opportunityto WfJL H?ilb to swb property,vhilo tr 8
io~losure presm they uould be. In both the Coastitu-~
.tloama ststutethe iatentioarppsan tttstthe exat@tloeshall
*@pip on4 la tha went it ia boudht la 8t a r0mi0wn sale.
6xc~ptlons ams to be strlatly oonstnml.
Our adsver to your pwatloa is a ne6atIva one. l&s
pmmu~e that the promrty thus acqulmd is not usad erolusive-
for ~abool purposes so as to brIag It vithio Mother esaw-
L provldodin the above oon&titutloa8&
sad ststutorypro-
VlBtoe8.
Yours verJtruly
A’l’YORRRYO?B?RRALOF TRXA8
APPROVED By (Eilgnad)
4LuIm If.LEWIS
APB 18,194l Asslstunt
a/ oRavE6 SRLLRRS
FIIIST A8818TAXT ATTORRBX APPElOVSDOpiDlonCmlttre
QExmAL By B.W.B. Ohatmaa