Municipal Finance Commission v. Marquette Township School District Board of Education

On August 11, 1949, the electors of Marquette township school district, Marquette county, at an election called and held in accordance with statute, approved a proposition to borrow $150,000 for the construction of a new school and to issue bonds in like amount. At the same time the electors adopted a proposition to increase the limitation on taxes assessed on property in the school district by 1.9% of the assessed valuation, as equalized, for a period of 20 years for the purpose of providing funds to pay the principal and interest to become due on the bonds when issued.

Following the…