HJR 40, 43rd R.S.
Proposing an amendment to Article III, of the Constitution of the State of Texas, by adding to Section 48 thereof a provision authorizing the levying of taxes for State highway purposes, and by adding to Section 49, of said Article III, a provision enabling the Legislature to provide for the extension of the credit of the State, for the purpose of reimbursing moneys expended and assuming and/or discharging obligations made by counties and defined road districts in the construction of a system of State highways by means of a tax on gasoline and all other motor fuels, and applying one-fourth of the tax on the business of selling gasoline, or other motor fuels, to the Public Free School Fund, and providing that no lien shall ever be created against real or personal property for the purpose of paying the principal or interest of any bonds issued for such purposes, and providing that the interest on said bonds shall not exceed four and one-half percent per annum.
Author: Dennis Pace Ratliff
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