Parsons v. City of Birmingham

Section 1897, Code, prior to the amendment of March 6, 1931, authorized cities and towns to borrow money to the limit prescribed by the Constitution, but did not define the nature of instrument they could execute. The amendment directed that for temporary loans negotiable notes may be executed, payable within twelve months, etc., and shall have the municipal seal attached. Section 222, Constitution, permits a “bond issue” only after an election is held, etc.

Undoubtedly a promissory note under the seal of the maker is a “bond.” But is the execution of such a note under seal a “bond issue” as…