Board of Directors v. Williford
Supreme Court of Arkansas
Appeal from Crittenden Chancery Court; G. D. Frierson, Chancellor; STATEMENT BY THE COURT. This suit was instituted by the plaintiff, a taxpayer, owning lands in the St. Francis Levee District, to restrain the board of directors from issuing certificates of indebtedness amounting to $95,670.00. The board of directors, it appears from the pleadings, passed resolutions providing for the issuance of certificates of indebtedness varying in .amounts from $16,000 to $21,120 to…
Read the full summary
Appeal from Crittenden Chancery Court; G. D. Frierson, Chancellor; STATEMENT BY THE COURT. This suit was instituted by the plaintiff, a taxpayer, owning lands in the St. Francis Levee District, to restrain the board of directors from issuing certificates of indebtedness amounting to $95,670.00. The board of directors, it appears from the pleadings, passed resolutions providing for the issuance of certificates of indebtedness varying in .amounts from $16,000 to $21,120 to repair and construct the levee of the district at five different places therein. The board declared that the work of…
1Opinion of the CourtWood, J.
(after stating the facts). These appeals involve the construction of the section set out above. The plaintiff, on 'his appeal, contends that the board of directors, under the above section, had authority to issue interest-bearing certificates of indebtedness in extraordinary emergencies in an laimount not exceeding $21,000, and that when such certificates were issued in that amount during the years 1912 and 1913 the power of the board was exhausted, and that therefore so much of the decree o;f the chancellor as (authorized the issuing of interest-bearing certificates of indebtedness in the…
2Cited by3 opinions
- McIntosh v. Little RockSupreme Court of Arkansas · 1923
- Thompson v. Road Improvement District No. 1Supreme Court of Arkansas · 1919
- Opinion No., Arkansas Attorney General Reports1991