Interstate Bond Co. v. Home Owners Loan Corp.

Opinion of the Court by

Judge Fulton

— Affirming on original appeal and affirming in part and reversing in part on cross-.appeal.

The Interstate Bond Company, at the annual sale of property for delinquent taxes held by the City of Louisville in 1935, purchased for the amount of the delinquent tax bill for that year a piece of property then under mortgage to the Home Owners Loan Corporation. The amount for which the property was purchased by HOLC included interest on the 1935 taxes from May 1 at one-half of 1% per month and the July 1 penalty of 10 fo, which interest and penalty were due by…