City of Victor v. Halstead

David Halstead, the defendant in error, obtained a peremptory writ of mandamus against the City of Victor, its mayor and the members of the city council, ordering the levy of a tax to pay certain overdue coupons cut from bonds of the city.' The city seeks a reversal of the judgment.

The amended answer discloses the following situation: The city is heavily in debt. The assessed valuation of its property is (1927) greatly reduced in value, being only $325,000, while its bonded debt is $523,000, which it is unable to pay. Because of this, some of its creditors have accepted new bonds to the…