Olson v. Preston St. Road Water Dist. No. 1

Opinion op the Court bt

Judge Tilford

— Affirming. '

According to the allegations of the petition, the Preston Street Road Water District No. 1 has been duly organized as a corporation under the provisions of Kentucky Statutes, Sections 938g-l to 938g-27, inclusive, and the object of this declaratory judgment proceeding is to determine (1) whether the District may issue bonds secured by a pledge of the revenues to be derived from its operations as well as the required lien assessment against the property within the District; (2) whether the bonds will be invalid if sold for less1 than their par…