Ashuelot Nat. Bank v. Lyon County
U.S. Circuit Court for the District of Northern Iowa
Action on bonds and coupons issued by the county defendant under date of 'November 12, 1880. Tried to court. A jury trial having been duly waived in writing, signed by the parties litigant, the evidence was submitted to the court, from which the court finds the facts to be as follows: (1) The plaintiff corporation is a national bank created under the laws of the United States, having its principal place of business at Keene, in the state of New Hampshire.
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Action on bonds and coupons issued by the county defendant under date of 'November 12, 1880. Tried to court. A jury trial having been duly waived in writing, signed by the parties litigant, the evidence was submitted to the court, from which the court finds the facts to be as follows: (1) The plaintiff corporation is a national bank created under the laws of the United States, having its principal place of business at Keene, in the state of New Hampshire. (2) The defendant county is a municipal corporation created and organized under the laws of the state of Iowa. (3) That the value of the…
1Opinion of the CourtShiras, District Judge
(after stating the facts as above). From the foregoing findings of fact it appears that' the only question for •determination is whether on the 12th day of November, 1880, when the bonds how sued on were issued, the defendant county was indebted in any form or for any purpose in an aggregate amount so large that, if added to the amount of the bonds then issued, it would cause the indebtedness of tiie county to exceed 5 per cent, of the then taxable property of the county; that being the limit fixed by the constitution of the state of Iowa upon the debt-creating power of the county. If tiie…
2Cases cited3 opinions
- Aetna Life Ins. Co. v. MiddleportSupreme Court of the United States · 1888
- Louisiana v. WoodSupreme Court of the United States · 1880
- Doon Township v. CumminsSupreme Court of the United States · 1892
3Cited by1 opinion
- Lyon County v. Ashuelot Nat. Bank of KeeneCourt of Appeals for the Eighth Circuit · 1898