Walsh v. City of Pineville

¡Opinion op the Court by

Chief Justice Hobson

Reversing.

Pineville is a city of the fourth ci-ase. At the time of the adoption of the present Constitution in 1891, the aggregate indebtedness of the city was in excess of 5% of the assessed value of the taxable property in it; the indebtedness at that time being $50,000, all of which has been paid since except about $8,800, and $14,500, the latter sum -being now represented by refunding -school bonds of date November 10, 1908, those bonds having been issued to refund the -bonds which had -been issued before the 'Constitution was adopted, the old…