City of New Smyrna Beach v. State

THOMAS, Chief Justice.

This case comes to us on appeal from a decree of the circuit judge denying the petition of the appellant to validate $1,500,-000 of Waterworks and Electric Revenue Certificates.

By its charter, Chapter 22,408, Laws of Florida, Special Acts of 1943, as amended, the appellant owns and operates a waterworks and electric plant. It appears that the plant and system have now become inadequate and that extensions are imperative fully to meet the needs of the people.

*146There are outstanding Electric Revenue Certificates dated 1 January 1947 in the sum of $25,000 payable solely from…