Sabougla Drainage Dist. No. 2 v. People's Bank & Trust Co.

ON THE MERITS.

The appellee, The People's Bank Trust Co., filed its bill in the chancery court of Calhoun County against appellant, Sabougla Drainage District No. 2, to recover the balance of the principal due it on bonds of the district held by it, being the sum of $2,445.74, and interest thereon from the maturity of the bonds as well as interest on the unpaid interest coupons. The cause was heard on original bill, amendments thereto, and exhibits, answer of the drainage district, exhibits thereto, and oral testimony, resulting in a decree for the principal of the bonds but denying interest…