Bankers L. Co. v. Spirit Lake

On August 10, 1925, the town of Spirit Lake, proceeding under chapter 115 of the Acts of 41st General Assembly, now appearing1 as sections 6126-al to 6126-a6, inclusive, Code 1935, issued five separate and distinct series of refunding bonds. One series was to pay off and take up those that were outstanding of an issue of storm sewer bonds originating in 1920. Each of the four other series was issued to take up and pay off the outstanding bonds of a particular one of four previous original issues of street improvement bonds. The questions involved in this appeal pertain to these five different…