The Governor v. Wolfe County

Opinion of the Court by

Morris, Commissioner

— Affirming.

Prior to July 1, 1941, Wolfe County had outstanding $37,000 road and bridge bonds, of an issue of $50,000, bearing 5% interest, theretofore authorized by a vote; the finances of the county were such that it could not meet payments of some maturing and matured bonds and accrued interest. It was then proposed by the couiity to'refund these bonds, to bear interest at 4%. Prior to the passage of the resolution the county employed an agent to work out and submit a refunding plan, who later presented to the court alternative plans for the…