In Re Validation of Lincoln County Funding Bonds

At the September, 1939, term the board of supervisors of Lincoln County determined to issue the funding bonds of the county in the sum of $54,000, as provided by Section 5977, Code 1930, which section is in the following language: Every municipality and every county in this state which has or may hereafter have legal and undisputed outstanding warrants or other obligations, and insufficient funds in the treasury to pay them or any of them, is empowered and required to at once prepare for, and take up' such warrants and other obligations from the proceeds of serial bonds which shall be issued…