SECURING THE COMMON SCHOOL AND UNIVERSITY FUND, AND FOR OTHER PURPOSES.
Be it ordained by the people of the State of Texas in Convention assembled, That the Legislature, at its first session, shall provide for issuing coupon bonds of the State for the 5 per cent. United States bonds and interest transferred from the University Fund to the State Revenue account, in February, 1860; and when issued they shall be placed in the Treasury to the credit of said fund.
SEC. 2. Be it further ordained, That all 5 per cent. United States bonds and coupons transferred from the Common School fund since the 28th of January, 1861, that are in the possession of, or may be recovered by the State shall be secured to said fund; and any portion of said bonds or coupons that may be used for the payment of the direct tax due the United States, shall be secured by coupon bonds of the State and placed to the credit of said fund; and the Legislature of the State is hereby directed to carry this section into effect.
SEC. 3. Be it further ordained, That the Legislature of this State shall have no authority, and are hereby forbidden to assume or provide by taxation or otherwise, for the payment of any other claim or pretended liability of the State to said funds, not enumerated in this ordinance.
Passed April 2, 1866.