Suwannee County v. State

The appellant appealed from a decree of the circuit judge denying a petition to validate certain proposed refunding bonds.

The facts on which the decree was based appear in the stipulation signed by the respective parties: There are outstanding Suwannee River Scenic Highway Bonds of the total principal amount of $568,000, dated June 1, 1926, and maturing $160,000 on July 1 of each of the years 1941, 1946, 1951 and $88,000 July 1, 1956. All of these bonds are noncallable and there is at present no default in the payment of principal or interest. The county has, in the hands of the board of…