State v. City of Fort Pierce

THORNAL, Justice.

The State, acting through the State Attorney, seeks reversal of a decree validating an issue of revenue bonds.

By an ordinance enacted July 11, 1955, the City authorized the issuance of $2,180,-000 Utility Sewer Revenue Bonds, the proceeds of the sale of which are to be used to refund $207,000 of outstanding Utilities *136Service Tax Certificates, and to finance the cost of acquisition and construction of improvements to a municipal sanitary sewer system. It is proposed that the bonds shall be paid out of the net revenues to be derived from the operation of the sewer system in the…