Breckenridge v. Johnston

AILSHIE, C. J.,

Dissenting. — The effect of the majority opinion is recognition of the right of a municipal corporation to repudiate a legally contracted obligation. I cannot agree to such a doctrine.

When these bonds were issued by the district and purchased by appellant, it was contracted, and the purchaser had a right to believe the contract would be kept, that interest coupons would be paid as they fell due and that the bonds would be paid at or before maturity. (Straus v. Ketchen, 54 Ida. 56, 28 Pac. (2d) 824.) That much stands conceded. But if has been argued that the bondholder had his…