State ex rel. Cribbet v. Ziegler

The question involved herein may be simply stated as follows: Does the statutory debt limitation in effect at the *34time a bond issue is authorized by the electors of a village apply to bonds sought to be issued at a later time under such authorization when that debt limitation has been statutorily increased?

The Court of Appeals, in allowing the writ, relied upon two provisions of Section 133.15, Revised Code, which read as follows:

“Bond or notes * * * which are issued within the debt limitation of a subdivision for a portion of the amount authorized by such election shall be valid and in no…