Electric Plant Board, Etc. v. City of Mayfield

Opinion op the Court by

Van Sant, Commissioner

—Affirming in part, reversing in part.

In the year 1942, under ordinances duly adopted by the Board of Council, the City of 'Mayfield acquired the waterworks plant previously owned by the KentuekyTennessee Light & Power Company. Funds for its purchase were obtained from the sale of Water Works Revenue Bonds. The ordinances authorizing the purchase and providing for the operation and control of the system, as well as the bonds issued in pursuance of the ordinances, provided for the payment to the city by the Electric Board (created to operate jointly…