Lakeside School Dist. of Chicot County v. Gaines

Appellee, a citizen and taxpayer, brought this action against appellant to enjoin it from funding its outstanding non-bonded indebtedness, incurred prior to the enactment of act 194 of 1939, approved March 9, 1939, hut effective June 8, 1939, for operation and maintenance of its schools, by the issuance and sale of $42,715 of 4 per cent, bonds, dated April 1, 1941, and maturing serially on January 1, 1943 to 1966, inclusive. Appellant made application to the state board of education under and in accordance with the provisions of § 11495 of Pope’s Digest for authority to issue said bonds and…