Philadelphia Saving Fund Society v. Bethlehem

Opinion by

Hirt, J.,

In 1912 the Borough of South Bethlehem by ordinance provided for the issue and sale of Street Paving Bonds in the amount of $42,000. The bonds were issued in denominations of $1,000 each and were sold to the highest bidder, Charles C. Harrison Jr. & Company of Philadelphia on August 5, 1912. That company on November 1, 193.2 resold the entire issue to plaintiff without notice to the Borough. The bonds were due and payable on October 1, 1942 but by their terms were “redeemable and payable at the office of said Borough on and after the first day of October 1927, at the…