Jemison v. Town of Ft. Deposit

This suit seeks to enforce the collection of interest coupons attached to municipal bonds. Defendant’s demurrer to the complaint was sustained. Plaintiff declined to plead further, was nonsuited, and has appealed.

The bonds in question were issued August 13, 1908, under an act “to allow cities and towns to issue bonds to pay outstanding indebtedness not evidenced by bonds.” Gen. Acts 1907, p. 694), section 1 of which provides, so far as presently pertinent, as follows:

“That cities and. towns shall have the power within one year from the passage of this act to pay any outstanding indebtedness…