Clark v. Philadelphia

This is a class bill to enjoin the City from giving effect to the Act of May 28, 1937, P. L. 951, by consolidating the City's 44 sinking funds, and to require payment to the Sinking Fund Commissioners of the sum of $7,343,536 which had been certified by them as the amount required for the year 1938 by the City's loan contracts.

Plaintiff avers that he is a taxpayer and owner of a bond dated March 16, 1922, maturing March 16, 1972, redeemable at par and accrued interest at the expiration of 20 years or at any subsequent interest period, the bond being one of an issue of $1,050,000 sold to…