Connett v. City of Jerseyville

MINTON, Circuit Judge.

This is the fourth time the matters involved in this litigation have been before this court.

*123On August 8, 1923, the City of Jersey-ville, Illinois executed a mortgage on its waterworks, and also pledged therein the revenues from the operation of the waterworks, to the Union Trust Company of East St. Louis, Illinois, as trustee, to secure certificates of indebtedness of the face value of $235,000, the proceeds of which were used to acquire the waterworks plant. The certificates of indebtedness were payable out of the revenues to be derived from the operation of the plant,…