Davis v. Brace

Hr. Justice Scholeield

delivered the opinion of the Court:

The tax, collection of which is sought to be enjoined by the bill, is for the payment of interest on the bonds of the town, issued in conformity with its subscription for capital stock in the Peoria, Dixon and Hannibal Bailroad Company. The validity of the bonds is not questioned, nor is it claimed that the tax exceeds the constitutional limitation, nor that the amount proposed to be collected is not bona fide due from the town to the holders of the bonds, but it is simply asserted that the tax was not legally levied. The reasons…