Hazelrigg v. Board of Penitentiary Commissioners

This appeal questions the right of the State, acting through the Státe Penitentiary Board, to issue bonds pursuant to act No. 208, approved March 26, 1931.

Section 1 of the act reads as follows: “Section 1. The board having charge of the State penitentiary is hereby empowered and authorized to execute in the name of the State of Arkansas coupon bonds of the State of Arkansas in the sum or sums of not to exceed six per cent. (6%) per annum, payable annually, said bonds to run for a period of not more than five (5) years, and to be so arranged that the annual payments may be substantially equal.…