Union Safe Deposit Bank v. City of Menlo Park

Petitioner is the owner and holder of several bonds issued pursuant to the Improvement Bond Act of 1915. (Stats. 1915, p. 1441.) Petitioner, after alleging in its verified petition the necessary facts as to the issuance of said bonds, the default of the property owners in the payment of the assessments levied for the purpose of paying the principal and interest on said bonds, and the sale of the property in the several districts against which said bonds were made a lien, the several amounts due and unpaid on the bonds held by petitioner, and the refusal of the respondents, as officers of said…