Document issued by the Office of the Attorney General of Texas in Austin, Texas, providing an interpretation of Texas law. It provides the opinion of the Texas Attorney General, Gerald Mann, regarding a legal question submitted for clarification: Authority of a Commissioners’ Court to enter into an agreement either in or out of court to accept refunding bonds bearing a lower rate of interest in lieu of bonds held in the permanent school fund of the county; and to accept a discount of past due interest accrued thereon.