Ringgold v. Bailey

Appellants are citizens and taxpayers of the town of Cabot. Appellees are the mayor and other town officials. According to the allegations of appellants ’ complaint, and amendment thereto as set out in the abstract, ‘ ‘ The town council of the town of Cabot has passed an ordinance providing’ for the issuing of twenty-three thousand dollars worth of interest-bearing bonds * * * the plaintiffs believe that the property owners will have to pay the bonds when they have been issued and sold. The plaintiffs believe that no one will buy the waterworks bonds of Cabot unless they have an adequate…