Texas v. Tabasco Consol. Independent School Dist.

This proceeding to compose the indebtedness of appellee produced a plan agreed to by 92% of the indebtedness, but objected to by 8% owned by the Permanent School Fund of the State of Texas. It was confirmed by the District Court. On appeal this court found nothing wrong with the plan except that the Permanent School Fund was to get settlement in cash while others in the same class were to get 4% bonds, which was held to be a discrimination. The opinion concludes: “In order that the plan may be modified in this respect, the judgment appealed from is reversed, and the cause remanded to the…