Balaam v. Pacific States Savings & Loan Co.

Plaintiff and defendant each own a serial bond issued under and by virtue of the Street Improvement Act of 1911 (Stats. 1911, p. 730), both bonds being liens upon the same lot, or piece of real property. The bond owned by the plaintiff was issued on the third day of October, 1925. The bond owned by the defendant was issued on the twenty-ninth day of October, 1926. The point in issue is whether the priority of the lien under which each of the parties hereto claim is fixed by the provisions of section 23 of the Improvement Act of 1911, or by section 66 of said act. As originally enacted,…