Emmons v. Bd. of Ed. of Lewis County

Opinion of the Court by

Judge Ratliff —

Affirming.

The high school building at Tollsboro, Lewis county, Ky., was destroyed by fire. As a means of financing the construction of a new building and other facilities necessary for the school plant, the board of education of Lewis county proposed to convey the lot and perhaps other certain parcels of real estate to a nonstock corporation or holding company with the right of the holding company to issue bonds for a sufficient sum to make the improvements and to mortgage the property to secure the payment of the bonds. The conveyance proposed to be made…