Greensboro v. Scott.
Supreme Court of North Carolina
CONTROVERSY without action by the City of Greensboro against Scott and Stringfellow beard by Judge T. J. Shaw at Chambers on March 30, 1905. By chapter 80, Private Laws, 1903, the city of Greensboro was authorized to issue its bonds for an amount not exceeding two hundred and fifty thousand dollars, to run not less than thirty years and not more than fifty years, and to bear no greater rate of interest than five per cent, and containing a provision that the bonds should not…
Read the full summary
CONTROVERSY without action by the City of Greensboro against Scott and Stringfellow beard by Judge T. J. Shaw at Chambers on March 30, 1905. By chapter 80, Private Laws, 1903, the city of Greensboro was authorized to issue its bonds for an amount not exceeding two hundred and fifty thousand dollars, to run not less than thirty years and not more than fifty years, and to bear no greater rate of interest than five per cent, and containing a provision that the bonds should not be sold, hypothecated or disposed of for less than their par value. It was further provided in said act that the…
1Opinion of the CourtClark, C. J.
The vote of the people having been given in approval of a proposition submitted to them by virtue of an act which forbade the bonds to be disposed of at less than par, tbis transaction by which the defendants bid 5 1-3 per cen. less than par might well be invalid if the validity of these bonds depended upon the ratification of the issue thereof by the people as provided by Chapter 80 Private Laws, 1903, for the amount of the alleged brokerage, its payment to the purchasers, and the frank recital in the act of 1905 that the city of Greensboro could not dispose of its 4 per cent, bonds at par,…
2Cases cited5 opinions
- Mayor, Etc., of N.Y. v. . SandsNew York Court of Appeals · 1887
- Robinson v. Goldsboro.Supreme Court of North Carolina · 1904
- Tucker v. City of RaleighSupreme Court of North Carolina · 1876
- Wilson v. . Board of Aldermen of CharlotteSupreme Court of North Carolina · 1876
- Davis v. Fremont.Supreme Court of North Carolina · 1904
3Cited by13 opinions
- Storm v. Town of Wrightsville BeachSupreme Court of North Carolina · 1925
- Purser v. LedbetterSupreme Court of North Carolina · 1946
- Reed v. Howerton Engineering Co.Supreme Court of North Carolina · 1924
- Ellison v. Town of WilliamstonSupreme Court of North Carolina · 1910
- Bradshaw v. City of High PointSupreme Court of North Carolina · 1909
8 more not listed; retrieve them via the Exa API.