Hawthorne Park District v. Seipp, Princell & Co.

Plaintiff, a municipal corporation, brought suit against defendant to recover $626.45, claiming that this amount was the compound interest it had paid defendant on overdue interest coupons. There was a trial. before the court without a jury, a finding and judgment in plaintiff’s favor for the amount of its claim, and defendant appeals.

The record discloses that plaintiff, a municipal corporation, issued its bonds to raise money for municipal improvements, in accordance with the statute. The interest on the, bonds was payable semiannually, evidenced by coupons. The coupons were not paid on the…