Thornburgh Co. v. Fiscal Court, Etc.

Opinion op the Court by

Stanley, Commissioner—

Affirming.

This is a suit to obtain validation of bonds to be issued by Trigg County. In 1928, Trigg County issued 5% bonds to the amount of $50,000 to fund its floating debt. Maturity began serially in 1933. The County paid the interest out of its general fund until 1933. Since then both principal and interest have been in default. A bondholder obtained judgment in the United States District Court against the County for an aggregate of $20,702.75, and that judgment has been bearing 6% interest. Interest on the bonds has also been accumulating…