Wayne County Savings Bank v. Gas City Land Co.

The appellant became the owner of street improvement bonds amounting to $16,890.67, issuéd by the city of Gas City under the provisions of the act of the General Assembly of the State of Indiana, approved March 8, 1889 (Acts 1889, p. 237, §§4288:4294 Bums 1894), known as the “Barrett law”. These bonds were payable out of the fund to be derived from assessments made’ against a large number of town lots abutting on the street improved, owned by the appellee, the Gas City Land Company. In consideration of the privilege of paying the said assessments in instalments covering a period of ten years,…