This act was passed to assert the authority of the British government to tax its subjects in North America after it repealed the much-hated Stamp Act. On March 18, 1766, Parliament repealed the Stamp Act and passed the Declaratory Act.The Declaratory Act of 1766 declared that the British Parliament had the absolute right to tax colonies in North America. Declaratory Act (1766). The Declaratory Act. An act for the better securing the dependency of his majesty's dominions in America upon the crown and parliament of Great Britain. The State, acting through its Attorney General, has determined that the Agreements and entry of this Agreed Judgment is in the public interest. Texas law also permits the City to invest bond proceeds in a guaranteed investment contract subject to the limitations set forth in the Investment Act. Dallas, Bexar, and Tarrant Counties, as provided in the Texas Intrastate Term Sheet.