Hartwick v. Thorne

John I. Purtle, Justice.

This is an appeal of a chancellor’s ruling requiring the appellants to refund to the appellee taxpayers the principal and interest on a part of a bond issue proceeds which could no longer be spent for a designated project. The appellants argue that the court erred in finding the bond issue to be an illegal exaction and in requiring the accumulated interest on funds set aside from the bond issue to be refunded to the taxpayers. The trial court ruled correctly on each issue, and we therefore affirm.

On July 9,1975, the North Little Rock City Council enacted Ordinance No.…