Meurer v. Hooper

Article 627, Texas Complete Statutes of 1920 (or Vernon’s Sayles’ Ann. Civ. St. 1914, art. 627), reads as follows:

“Any county in this state, or any political subdivision or defined district, now or hereafter to be described and defined, of a county, is hereby authorized and empowered to issue bonds, or otherwise lend its credit, in any amount not to exceed one-fourth of the assessed valuation of the real property of such county, or political subdivision, or defined dis-*174triet thereof, and to levy and collect such taxes to pay the interest upon such bonds and provide a sinking fund for the…