Fazende v. City of Houston
United States Circuit Court
In Equity. Bill for specific performance and injunction. - The city of Houston, authorized by its charter, passed an ordinance providing for the issuance of bonds to raise a fund for building a market. Under the terms of the ordinance the revenue from the market was to be devoted to the payment of the interest on the bonds, and to constitute a sinking fund to cancel them. Subsequently the city obtained a new charter.
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In Equity. Bill for specific performance and injunction. - The city of Houston, authorized by its charter, passed an ordinance providing for the issuance of bonds to raise a fund for building a market. Under the terms of the ordinance the revenue from the market was to be devoted to the payment of the interest on the bonds, and to constitute a sinking fund to cancel them. Subsequently the city obtained a new charter. Under its authority the revenue of the market was- used for other purposes than provided for in the bond ordinance. Plaintiffs, holders of these bonds to the amount of $78,000,…
1Opinion of the CourtPardee, J.
There can be no question that the ordinance of the city of Houston passed November 13,1871, authorized the issuance of bonds for the purpose of defraying the expenses of improving the public market by building a new market-house; nor that, by the same ordinance, if words have any meaning, -the said bonds were agreed to be secured by the appropriation setting apart and pledging, as a special fund, to pay the interest and to create a sinking fund to pay the principal, of all the money and other revenues accruing after the 1st day of January, 1872, in any manner from the public market,…
2Cases cited1 opinion
- Maenhaut v. New OrleansU.S. Circuit Court for the District of Louisiana · 1875
3Cited by8 opinions
- J. R. Phillips Inv. Co. v. Road Dist. No. 18 of Limestone CountyCourt of Appeals of Texas · 1943
- Kirk v. ClarkSupreme Court of South Carolina · 1939
- George v. City of Asheville, N. C.Court of Appeals for the Fourth Circuit · 1935
- Dodds v. Kansas CitySupreme Court of Missouri · 1941
- Security Bank & Trust Co. v. BarnettSupreme Court of Oklahoma · 1934
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