State v. City of St. Petersburg

The City of St. Petersburg filed its petition in the circuit court to validate an issue of waterworks revenue certificates, hereinafter designated as certificates, for the, purpose of enlarging and improving its waterworks system, the primary enlargement being the purchase of the properties of Pinellas Water Company and Southern Water Company, both of which are under contract with the City to furnish it water and water facilities.

The certificates and the resolution authorizing them provided that they should be a charge only against the net revenues from the enlarged waterworks system and that…