How & Co. v. City of Chicago

The appellee, Chicago Flower Growers, Inc., owns five city of Chicago special-assessment bonds, numbers 11607 to 11611, for the sum of $1000 each. The bonds were issued to anticipate the collection of the third installment of special assessment number 52345, which totalled the sum of $14,846.98. Payments have been made in full of bonds and vouchers in the sum of $9546.98. The Local Improvement Act provides that the city of Chicago shall be the trustee for the levy, collection and distribution of the assessments, on which, alone, the holders of the bonds must rely for payment.

The original…