City of Buffalo v. Strong & Co.

We all agree, including the parties, that this is a proper case for a judgment on the pleadings and that the registered 4% water bonds sought to be called for payment were validly issued under date of October 10, 1908, the principal payable fifty years from date, viz., October 10, 1958, subject to the condition that “ The City reserves the right to recall or repay this bond at the expiration of twenty years from its date of issue.” (L. 1906, ch. 203, as amd. by L. 1907, ohs. 84, 724; resolution duly adopted by Common Council of the City of Buffalo, March 25, 1908, and approved by the Mayor…