Cosmar, Inc. v. Waterworks District No. 2 of the Parish of Iberville

CARTER, Judge:

This appeal is from a trial court’s decision to sustain the defendant-appellees’ peremptory exception of no right and no cause of action. We affirm.

On November 4, 1980, in a bond election, the following proposition was approved by the voters of Iberville Parish:

“Shall Waterworks District No. 2 of the Parish of Iberville, Louisiana, incur debt and issue bonds to the amount of One Million Five Hundred Thousand Dollars ($1,500,000), to run twenty-five (25) years from date thereof, with interest at a rate not exceeding nine per centum (9%) per annum, for the purpose of constructing…