Worthen v. Dillard

Richard B. Adkisson, Chief Justice.

Appellant brought suit under the Declaratory Judgment Act, Ark. Stat. Ann. §§ 34-2501 — 2512 (Repl. 1962), to have a Bond Purchase Agreement entered into by appellees declared invalid as violating Arkansas’ usury provision, Art. 19, § 13 of the Arkansas Constitution. The Baxter County Chancery Court’s ruling in favor of appellees is now appealed.

On August 27, 1981, appellees, the County Judge and the County Clerk of Baxter County, authorized a contract for the sale of Baxter County Hospital Revenue Bonds for the purpose of upgrading and expanding the Baxter…