State Ex Rel. Village of Warrensville Heights v. Fulton

A purely legal question is presented for determination. Is tbe relator entitled to receive from tbe respondent tbe bonds pledged by Tbe Union Trust Company as security for deposit of relator’s funds when tbe indebtedness of the relator to tbe trust company is in a sum larger than tbe amount of such deposit? Or, putting tbe proposition in another way, can a deposit of public funds, representing moneys derived from taxation, be applied by a bank against past due obligations owed to it by tbe political subdivision wbicb is tbe owner of such deposit?

The" relator argues with much force that under…