Edwards v. St. Louis County

EAGER, Judge.

The question here is, simply stated, which of two conflicting statutes controls the rate of interest which counties may fix and pay on general obligation bonds. The suit is one brought by taxpayers for a declaratory judgment. No facts are in dispute. The County Council of St. Louis County adopted the necessary resolutions for the publication of notice and the sale of one $1,000 public improvement bond (out of an authorized total of $26,509,000 previously approved by the voters) to bear interest at a rate “not exceeding six percent (6%) per annum.” The procedure is conceded to be…