Heins v. Lincoln
Supreme Court of Iowa
Appeal from Linn District Court. — Hon. William P. Wolf, Judge. This is an action in equity to restrain the issuance of bonds by the city of Cedar Rapids. The defendants are the mayor, the finance committee of the city council, the city council, the city treasurer, and the city itself. The city proposed to issue two series of bonds, each bond to be for one thousand dollars, and to draw four and one-half per cent, interest, payable semi-annually.
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Appeal from Linn District Court. — Hon. William P. Wolf, Judge. This is an action in equity to restrain the issuance of bonds by the city of Cedar Rapids. The defendants are the mayor, the finance committee of the city council, the city council, the city treasurer, and the city itself. The city proposed to issue two series of bonds, each bond to be for one thousand dollars, and to draw four and one-half per cent, interest, payable semi-annually. All of the bonds were to mature in twenty years. The first issue was of twenty thousand dollars of refunding bonds, to refund refunding bonds…
1Opinion of the CourtKinne, C. J.
*721 *71I. It conclusively appears from the record in this case that the city of Cedar Rapids was, when the bonds in controversy were proposed to be issued, as well as when this case was tried below, indebted far in excess of the limit fixed by the constitution of the state. If, therefore, the bonds created an additional indebtedness they were void. We first turn our attention to the contention of appellant that refunding bonds cannot be issued to take up refunding bonds. It is conceded that the bonds to be taken up by the twenty thousand dollar issue were refunding bonds previously issued to refund…
2Cases cited9 opinions
- Clark v. City of Des MoinesSupreme Court of Iowa · 1865
- Merrill v. MonticelloSupreme Court of the United States · 1891
- Becker v. Keokuk WaterworksSupreme Court of Iowa · 1890
- Hanger v. City of Des MoinesSupreme Court of Iowa · 1879
- Brockman v. City of CrestonSupreme Court of Iowa · 1890
4 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- City of Huron v. Second Ward Sav. BankCourt of Appeals for the Eighth Circuit · 1898
- Van Eaton v. Town of SidneySupreme Court of Iowa · 1930
- Bennett v. City of MarionSupreme Court of Iowa · 1898
- Bear v. City of Cedar RapidsSupreme Court of Iowa · 1910
- Iowa Electric Light & Power Co. v. Incorporated Town of Grand JunctionSupreme Court of Iowa · 1933
24 more not listed; retrieve them via the Exa API.