State v. Town of Holly Hill

-This appeal is from a decree validating refunding bonds proposed to be issued by Appellee' in the sum of $320,000. Subsequent to the issuance of the original bonds and prior to the institution of this suit, some of the original bonds were reduced to judgment and the Legislature enacted Chapter 17556, Acts of 1935, materially reducing the territorial limits of the Appellee, the town of Holly Hill.

The first question we are importuned to answer is whether or not the territory eliminated from the town of Holly Hill by Chapter 17556, Acts of 1935, can now be required to pay a tax to meet interest…