Riesen v. School District No. 4 of Shorewood

This case presents another chapter in the financing of School District No. 4 of the Village of Shorewood, Wisconsin. The first case concerned an action by the district to compel a bank to take an issue of the district’s school bonds and pay for them pursuant to contract. The defense set up that the bonds exceeded the constitutional debt limit of the district and therefore were void. This court sustained that contention. School Dist. v. First Wisconsin Co. 187 Wis. 150, 203 N. W. 939. Incidental to the same bond issue, action was brought by a taxpayer to prevent the issuance and sale of the…