Fiscal Court of Lincoln Co. v. Lincoln Bd. of Ed.

Opinion of the Court by

Judge Perry

— Reversing.

This is an appeal from a judgment of the Lincoln circuit court, approving an issue of refunding bonds, which the Board of Education of Lincoln county proposes to sell for the purpose of refunding its floating debt of approximately $60,000 at a lower rate of interest than it is now paying on the debt.

It is not contended that the board is not a taxing district, within the meaning of that phrase as employed in the provisions of sections 186c-6 and 186c-7, Kentucky Statutes, and, as such, has authority to thus refund its accumulated floating…