Hancock v. Henderson County Board of Education

Opinion of the Court by

Chief Justice Stites—

Reversing.

This is an appeal from a judgment of the Henderson circuit court approving the validity of an issue of bonds by the Henderson county school district to refund a floating indebtedness of the district in the sum of $25,000, now evidenced by a note in that amount held by the Farmers Bank & Trust Company of Henderson, Ky.

It is asserted that the $25,000 note was given on July 3, 1937, to liquidate lawful obligations of the school board incurred during the school years 1930 to 1936, inclusive, which could not be discharged from the budgeted…