Olds v. Town of Belleair

SIBLEY, Circuit Judge.

Appellant Olds sued Town of Belleair alleging that the Town had issued $300,-000 of bonds dated July 1, 1924, validated by a decree of court dated July 28, 1924, for municipal improvements; that he had purchased $100,000 of the bonds, and the town had used the money for the municipal purposes for which it was borrowed; but in a proceeding to issue refunding bonds to which he was no party the Supreme Court of Florida had held the original bonds invalid and not refundable; State v. Town of Belleair, 125 Fla. 669, 170 So. 434; and afterwards the taxpayers had filed a suit…