Stith v. Bd. of Ed. of Pendleton Co. School Dist.

Opinion oe the Court by

Judge Ratliee

Reversing-

This appeal involves the question of the right of appellee, Pendleton County Board of Education, through and by the fiscal court of Pendleton county, to issue funding bonds in the principal sum of $53,000, bearing interest at the rate of 3%%, to pay an obligation or indebtedness incurred by it in the reconstruction of a school building in Pendleton county which was destroyed by fire.

The admitted facts are that in 1938 the Pendleton County Public School Corporation (hereinafter called the corporation) issued bonds in the principal sum of $210,000,…