Hudspeth County Herald and Dell Valley Review (Dell City, Tex.), Vol. 11, No. 50, Ed. 1 Friday, August 18, 1967 Page: 6 of 6
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Dell City
Box 436
Phone 964-2431
FRANKLIN ELECTRIC CO.
ELECTRICITY
<
If It’s Connected To
Hudspeth County
Sept. 9
fer taking over.
Day.
FT. HANCOCK.NEWS
From Page 4
The Jimmy Wafers tell us that
on their way back home from
Las Vegas they stopped in
Mesa, Arizona, and visited the
Kim McCullough family - spent
the night with them and took in
a tour of Phoenix. People will
remember Kim McCullough
was in charge of the Reclama-
tion office prior to Jimmy Wa-
COUNTY FAIR
HAY SHOW
DEADLINE
AUG. 25
Member of Federal Depoelt Insurance Corp.
START YOUR SAVINGS
ACCOUNT WITH US TODAY!
LAUNDRY MAT
Open 24 hours a day
NEW MAYTAG.MACHINES .
Hwy. 80 across from
Texaco Sta. Mrs. Julia
Colmenero, Owner.
Save here ... where your funds
are insured, and bring the highest return.
STATE BANK
EL PASO, TEXAS
NEW DRILLING
ARCHITECTURE
A western petroleum company
decided it was time to tap the
oil reserves under the city of
Los Angeles. So, the company
engaged an architect to design
a drilling installation that
would harmonize with new con-
struction in the area. It is a
beautiful ten-story, sky-blue
structure of vertical steel pan-
els, behind a 12-foot ornament-
tai flagstone wall, looking for
all the world like a very mod-,
ern high-rise office building,
sound-proofed and landscaped.
PAGE 6, HUDSPETH COUNTY HERALD-Dell Valley Review. AUGUST 18, 1967
14 and 15 YEAR-OLD
DRIVERS
From Page 1
restricted to having a licensed
driver 21 years of age or older
in the front seat, fails to beat
the August 28 deadline, they
will have to wait until their
16th birthday. This informa-
tion is for the benefit of the
recent graduates of driver edu-
cation course.
♦
*
• :
PUBLIC NOTICE
Proposed CONSTITUTIONAL AMENDMENT
NUMBER THREE ON THE BALLOT
HOUSE JOINT RESOLU-
TION No. 17 proposing an
amendment to Section 49-b,
Article III of the Constitution
of Texas, so as to authorize
an increase in the total amount
of bonds or obligations that
may be issued by the Veterans’
Land Board to Four Hundred
Million Dollars ($400,000,000);
providing for the issuance of
said bonds or obligations and
the conditions relating thereto
and the use of the Veterans’
Land Fund; and providing for
an election and the issuance of
a proclamation therefor.
BE IT RESOLVED BY THE
LEGISLATURE OF THE
STATE OF TEXAS:
Section 1. That Section 49-b,
Article III of the Constitution
of Texas, be amended so that
the same will hereafter read
as follows:
“Section 49-b. By virtue of
prior Amendments to this
Constitution, there has been
created a governmental agency
of the State of Texas perform-
ing governmental duties which
has been designated the Vet-
erans’ Land Board. Said Board
shall continue to function for
the purposes specified in all
of the prior Constitutional
Amendments except as modi-
fied herein. Said Board shall
be composed of the Commis-
sioner of the General Land Of-
fice and two (2) citizens of
the State of Texas, one (1) of
whom shall be well versed in
veterans’ affairs and one (1)
of whom shall be well versed
in finances. One (1) such citi-
zen member shall, with the ad-
vice and consent of the Sen-
ate, be appointed biennially by
the Governoi to serve for a
term of four (.4) years; but the
members serving on said Board
on the date of adoption hereof
shall complete the terms to
which they were appointed. In
the event of the resignation or
death of any such citizen mem-
ber, the Governor shall ap-
point a replacement to serve
for the unexpired portion of
the teim to which the de-
ceased or resigning member
had been appointed. The com-
pensation for said citizen mem-
bers shall be as is now or may
hereafter be fixed by the
Legislature; and each shall
make bond in such amount as
is now or may hereafter be
prescribed by the Legislature.
“The Commissioner of the
General Land Office shall act
as Chairman of said Bgard
and shall be the administrator
of the Veterans’ Land Pro-
gram under such terms and re-
strictions as are now or may
hereafter be provided by law.
In the absence or illness of
said Commissioner, the Chief
Clerk of the General Land Of-
fice shall be the Acting Chair-
man of said Board with the
same duties and powers that
said Commissioner would have
if present.
“The Veterans’ Land Board
may provide for, issue and sell
not to exceed Four Hundred
Million Dollars ($400,000,000)
in bonds or obligations of the
State of Texas for the purpose
of creating a fund to be known
as the Veterans’ Land Fund,
Two Hundred Million Dollars
($200,000,000) of which have
heretofore been issued and
sold. Such bonds or obligations
shall be sold for not less than
“The lands of the Veterans’
Land Fund shall be sold by
said Board in such quantities,
on such terms, at such prices,
at such rates of interest and
under such rules and regula-
tions as are now or may here-
after be provided by law to
veterans who served not less
than ninety (90) continuous
days, unless sooner discharged
by reason of a service-con-
nected disability, on active
duty in the Army, Navy, Air
Force, Coast Guard or Marine
Corps of the United States be-
tween September 16, 1940, and
the date of formal withdrawal
of United States troops from
the present armed conflict in
Viet Nam, and who, upon the
date of filing his or her appli-
cation to purchase any such
land is a citizen of the United
States, is a bona fide resident
of the State of Texas, and has
not been dishonorably dis-
charged from any branch of
the Armed Forces above-
named and who at the time of
his or her enlistment, induc-
tion, commissioning, or draft-
ing was a bona fide resident
of the State of Texas, or who
has resided in Texas at least
five (5) years prior to the date
of filing his or her applica-
tion. The foregoing notwith-
standing, any lands in the
Veterans’ Land Fund which
have been first offered for sale
to veterans and which have not
been sold may be sold or re-
sold to such purchasers, in
such quantities, and on such
terms, and at such prices and
rates of interest, and under
such rales and regulations as
are now or may hereafter be
provided by law.
“Said Veterans’ Land Fund,
to the extent of the moneys
attributable to any bonds here-
after issued and sold by said
Board may be used by said
Board, as is now or may here-
after be provided by law, for
the purpose of paying the ex-
penses of surveying, monu-
menting, road construction,
legal fees, recordation fees,
advertising and other like
costs necessary or incidental
to the purchase and sale, or re-
sale, of any lands purchased
with any of the moneys at-
tributable to such additional
bonds, such expenses to be
added to the price of such
lands when sold, or resold, by
said Board; for the purpose
of paying the expenses of is-
suing, selling, and delivering
any such additional bonds; and
for the purpose of meeting the
expenses of paying the inter-
est or principal due or to be-
come due on any such addi-
tional bonds.
“All of the moneys attri-
butable to any series of bonds
hereafter issued and sold by
said Board (a ‘series of bonds’
being all of the bonds issued
and sold in a single trans-
action as a single installment
of bonds) may be used for the
purchase of lands as herein
provided, to be sold as herein
provided, for a period ending
eight (8) years after the date
of sale of such series of
bonds; provided, however, that
so much of such moneys as may
be necessary to pay interest on
bonds hereafter issued and sold
shall b.e set aside for that pur-
pose in accordance with the
resolution adopted by said
Board authorizing the issuance
and sale of such series of
bonds. After such eight (8)
year period, all of such moneys
shall be set aside for the re-
interest on the bonds hereto-
fore and hereafter issued by
said Board shall be paid out of
the moneys of said Fund in
conformance with the Consti-
tutional provisions authorizing
such bonds; but the moneys of
said Fund which are not im-
mediately committed to the
payment of principal and in-
terest on such bonds, the pur-
chase of lands as herein pro-
vided, or the payment of ex-
penses as herein provided may
be invested in bonds or obli-
gations of the United States
until such funds are needed for
such purposes.
“All moneys comprising a
part of said Fund and not ex-
pended for the purposes herein
provided shall be a part of
said Fund until there are suf-
ficient moneys therein to re-
tire fully all of the bonds here-
tofore or hereafter issued and
sold by said Board, at which
time all such moneys remain-
ing in said Fund, except such
portion thereof as may be
necessary to retire all such
bonds which portion shall be
set aside and retained in said
Fund for the purpose of re-
tiring all such bonds, shall be
deposited to the credit of the
General Revenue Fund to be
appropriated to such purposes
as may be prescribed by law.
All moneys becoming a part of
said Fund thereafter shall like-
wise be deposited to the credit
of the General Revenue Fund.
“When a Division of said
Fund (each Division consisting
of the moneys attributable to
the bonds issued and sold pur-
suant to a single Constitution-
al authorization and the lands
purchased therewith) contains
sufficient moneys to retire all
of the bonds secured by such
Division, the moneys thereof,
except such portion as may be
needed to retire all of the
bonds secured by such Divis-
ion which portion shall be set
aside and remain a part of
such Division for the purpose
of retiring all such bonds, may
be used for the purpose of
paying the principal and the
interest thereon, together with
the expenses herein authorized,
of any other bonds heretofore
or hereafter issued and sold by
said Board. Such use shall be a
matter for the discretion and
direction of said Board; but
there may be no such use of
any such moneys contrary to
the rights of any holder of any
of the bonds issued and sold
by said Board or violative of
any contract to which said
Board is a party.
“The Veterans’ Land Fund
shall be used by said Board
for the purpose of purchasing
lands situated in the State of
Texas owned by the United
States or any governmental
agency thereof, owned by the
Texas Prison System or any
other governmental agency of
the State of Texas, or owned
by any person, firm, or cor-
poration. All lands thus pur-
chased shall be acquired at the
lowest price obtainable, to be
paid for in cash, and shall be
a part of said Fund. Such
lands heretofore or hereafter
purchased and comprising a
part of said Fund are hereby
declared to be held for a gov-
ernmental purpose, although
the individual purchasers there-
of shall be subject to taxation
to the same extent and in the
same manner as are purchas-
ers of lands dedicated to the
Permanent Free Public School
Fund.
par value and accrued interest;
shall be issued in such forms,
denominations, and upon such
terms as are now or may here-
after be provided by law; shall
be issued and sold at such
times, at such places, and in
such installments as may be
determined by said Board; and
shall bear a rate or rates of
interest as may be fixed by
said Board but the weighted
average annual interest rate,
as that phrase is commonly
and ordinarily used and under-
stood in the municipal bond
market, of all the bonds issued
and sold in any installment of
any bonds may not exceed four
and one-half per cent (4%%).
All bonds or obligations issued
and sold hereunder shall, after
execution by the Board, ap-
proval by the Attorney Gen-
eral of Texas, registration by
the Comptroller of Public Ac-
counts of the State of Texas,
and delivery to the purchaser
or purchasers, be incontestable
and shall constitute general ob-
ligations of the State of Texas
under the Constitution of
Texas; and all bonds hereto-
fore issued and sold by said
Board are hereby in all re-
spects validated and declared
to be general obligations of
the State of Texas. In order to
prevent default in the payment
of principal or interest on any
such bonds, the Legislature
shall appropriate a sufficient
amount to pay the same.
“In the sale of any such
bonds or obligations, a pref-
erential right of purchase
shall be given to the adminis-
trators of the various Teacher
Retirement Funds, the Perm-
anent University Funds, and
the Permanent School Funds.
“Said Veterans’ Land Fund
shall consist of any lands here-
tofore or hereafter purchased
by said Board, until the sale
price therefor, together with
any interest and penalties due,
have been received by said
Board (although nothing here-
in shall be construed to pre-
vent said Board from accept-
ing full payment for a portion
of any tract), and of the
moneys attributable to any
bonds heretofore or hereafter
issued and sold by said Board
which moneys so attributable
shall include but shall not be
limited to the proceeds from
the issuance and sale of such
bonds; the moneys received
from the sale or resale of any
lands, or rights therein, pur-
chased with such proceeds; the
moneys received from the sale
or resale of any lands, or
rights therein, purchased with
other moneys attributable to
such bonds; the interest and
penalties received from the
sale or resale of such lands,
of rights therein; the bonuses,
income, rents, royalties, and
any other pecuniary benefit re-
ceived by said Board from any
such lands; sums received by
way of indemnity or forfeiture
for the failure of any bidder
for the purchase of any such
bonds to comply with his bid
and accept and pay for such
bonds or foi' the failure of" any
bidder for the purchase of apy
lands comprising a part of sajd
Fund to comply with his bid
and accept and pay for any
such lands; and interest re-
ceived from investments of any
such moneys. The principal and
tirement of any bonds here-
after issued and sold and to
pay interest thereon, together
with any expenses as provided
herein, in accordance with the
resolution or resolutions auth-
orizing the issuance and sale
of such additional bonds, until
there are sufficient moneys to
retire all of the bonds here-
after issued and sold, at which
time all such moneys then re-
maining a part of said Vet-
erans’ Land Fund and there-
after becoming a part of said
Fund shall be governed as
elsewhere provided herein.
“This Amendment being in-
tended only to establish a
basic framework and not to be
a comprehensive treatment of
the Veterans’ Land Program,
there is hereby reposed in the
Legislature full power to im-
plement and effectuate the de-
sign and objects of this Amend-
ment, including the power to
delegate such duties, responsi-
bilities, functions, and author-
ity to the Veterans’ Land
Board as it believes necessary.
“Should the Legislature en-
act any ehabling laws in an-
ticipation of this Amendment,
no such law shall be void by
reason of its anticipatory na-
ture.
“This Amendment shall be-
come effective upon its adop-
tion.”
Sec. 2. The foregoing con-
stitutional amendment shall be
submitted to a vote of the
qualified electors of this state
at an election to be held on
November 11, 1967, at which
election all ballots shall have
printed thereon the following:
“FOR the amendment to ex-
tend the Veterans’ Land
Program by authorizing the
sale of bonds to increase the
Veterans’ Land Fund for the
purpose of purchasing land
in Texas to be sold to Texas
veterans who served in the
Armed Services of the
United States between Sep-
tember 16, 1940, and the
date of formal withdrawal of
United States troops from
the present armed conflict in
Viet Nam, which amendment
would amend Section 49-b,
Article III of the Constitu-
tion of Texas, and provide
for an additional $200,000,-
000 in bonds, such funds to
be expended in accordance
with instructions and re-
quirements that may be pro-
vided by law.”
“AGAINST the amendment
to extend the Veterans’ Land
Program by authorizing the
sale of bonds to increase the
Veterans’ Land Fund for the
purpose of purchasing land
in Texas to be sold to Texas
veterans who served in the
Armed Services of the
United States between Sep-
tember 16, 1940, and the date
of formal withdrawal of
United States troops from
the present armed conflict in
Viet Nam, which amendment
would amend Section 49-b,
Article III of the Constitu-
tion of Texas, and provide
for an additional $200,000,-
000 in bonds, such funds to
be expended in accordance
with instructions and re-
quirements that may be pro-
vided by law.”
Sec. 3. The Governor of the
State of Texas shall issue t the
necessary proclamation for the
election and this amendment
shall be published in the man-
ner and for the length of time
as required by the Constitution
and laws of this state.
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Addington, Dianne; Brown, Julia & Gilmore, Joyce. Hudspeth County Herald and Dell Valley Review (Dell City, Tex.), Vol. 11, No. 50, Ed. 1 Friday, August 18, 1967, newspaper, August 18, 1967; Dell City, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1235185/m1/6/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; .