Evangeline Parish School Board v. Kansas City Life Ins.

HOLMES, Circuit Judge.

In 1937, the School Board of Evangeline Parish, La., under Article XIV, Section' 14, of the state Constitution, as amended, and Act No. 46 of the Extra Session, Louisiana Legislature for the year 1921, as amended, issued its 5% coupon-bonds in the principal sum of $55,000, maturing serially from Jan. 1, 1938, to Jan. 1, 1962, inclusive.

On June 20, 1944, said board, purporting to act under said Article XIV, Section 14 (g), said Act No. 46, as amended, and other statutory authority, adopted a resolution to issue its refunding bonds for the purpose of readjusting and…