Can I run part of an applescript from a text file?

Scripting Forums AppleScript | Mac OS X
#1

I’m not sure if the title actually makes sense.

Anyway, I have a file on my desktop called File.txt. Here is the contents of File.txt:

display dialog “hello”

Is there anyway I could run that command from the text file.

Something like this:

set targetfolder to path to desktop

set theFile to "" & targetfolder & "File.txt" as alias
open for access theFile
set theText to read theFile
close access theFile

--here is the part I'm stuck on
run theText

I doubt this is possible but its worth a try

Any help is much appreciated:)

Model: iMac
Browser: Safari 531.9
Operating System: Mac OS X (10.5)

#2 
set theText to read file ((path to desktop as Unicode text) & "hello.txt")

set theFile to run script theText