Coffman v. Central City

Opinion op the Court by

Stanley, Commissioner—

Affirming in part and reversing in part.

The suit is prosecuted for the purpose of testing and establishing the legality of a 4% per cent, bond issue for $20,000 to fund a floating debt of Central City. The chancellor held the same to be valid.

' The ordinance recites, in effect, that during the eight-year period of 1928 to 1935 an indebtedness of $20,000 had been incurred in the necessary maintenance and operation of the government of the city, which was represented by unpaid warrants issued for loans and other obligations. It is further declared…