Franklin v. City of Dayton

Opinion of the Court by

Judge Bees

— Affirming.

The board of council of the City of Dayton, a municipality of the fourth class, has adopted an ordinance authorizing the issuance of $35,000 of bonds to fund a floating indebtedness of that amount incurred during the years 1931 to 1936, inclusive. This action was brought pursuant to the requirements of sections 186c-6 and 186c-7 of the Kentucky Statutes to obtain the court’s approval of the issuance of the bonds. The circuit court adjudged that the indebtedness which the funding bonds are intended to evidence was lawfully created and is within the…