Omaha National Bank v. City of Omaha

The proper city authorities of Omaha submitted to the electors of said city a proposition for the issue of $100,000 bonds for the paving of the streets of said city, the bonds to run twenty years, to be sold at not less than par, and to draw interest at six per cent, payable semi-annually at Kountze Brothers’ bank in the city of New York. The proposition was adopted, and the mayor and council hav*334ing ascertained that bonds at a less rate of interest than six per cent could be sold at their face value, issued said bonds with interest at five per cent, but conforming in all other respects to the…