City of Fernandina v. State

In November, 1939, the City Commission of Fernandina approved an ordinance submitting to the freeholders of the city the proposition of whether or not it should issue bonds for the purpose of funding its floating indebtedness, such indebtedness being for money borrowed pursuant to provisions of the city charter and represented by short-term notes.

The election was held and the issuance of bonds in the sum of $50,000 was approved. The city filed its petition to validate to which the State attorney answered challenging the validity of the bonds on the ground first that the indebtedness was not…