State v. City of Punta Gorda

The appeal brings for review a decree validating refunding bonds in the aggregate total amount of principal and interest $1,161,720.81. Involved in this is the refunding of $46,950.00 principal and matured interest coupons unpaid as of January 1, 1939, $24,158.75 of permanent improvement bonds dated July 1, 1914. It is because of the inclusion of the above mentioned issue of July 1, 1914-, that the appellant complains.

The proposed refunding bonds are proposed to be issued payable from an unlimited tax levy. When the bonds of July 1, 1914, were issued the statute applicable to the authority…