Rowland v. City of Paris

Opinion of the Court by

Judge Logan

— Affirming.

The city of Paris, a fourth-class city, enacted an ordinance providing for the issuance of bonds in the . amount of $50,000, the proceeds of which were to be used to fund the floating indebtedness of the city. The city had outstanding notes, warrants, and claims amounting to this sum which were held by individuals and banks, all bearing 6 per cent, interest. The bonds were to bear 5 per cent, interest under the provisions of the ordinance.

The appellant, a taxpayer of the city of Paris, instituted this action against the city, its mayor and the…