Mercer County v. Eyer

DENISON, Circuit Judge.

In the court below Eyer recovered a judgment against the county upon a note fox $50,000, xiated August 17, 1921, due in five months, with 6 per cent, interest. This note was payable to bearer, but was delivered to Eyer at its date in exchange for its face in cash, less lYi per cent, diseoxmt. Payment was refused. Section 157 of the Kentucky Constitution forbids any municipality to become indebted (except by a popular vote, which in this ease was not had) “to an amount ex-eeeding in any year the income and revenue provided for such year, * * * and ¡my indebtedness…