Guardian Savings & Trust Co. v. Road Improvement Dist. No. 2 of Benton County

STONE, Circuit Judge.

Road improvement district No. 2 of Benton county, appellee, is a public improvement unit organized, with defined powers, rights and liabilities, by a statute of the state of Arkansas. Road Laws 1919, vol. 1, p. 400 and an amendatory unpublished act of 1920. The statute provided that bonds might be issued to care for such improvements, payable by assessments against land within the district. The statute fixed a maximum limit for such assessment within the district at $6,000 per mile of road to be improved. It .provided, also, that a receiver might be appointed in case of…