Board of Education of Town of Ringling v. State Ex Rel. Benton

-This action was brought on behalf of Jefferson county against the board of education of the town of Ringling on warrants issued by such school district during the years 1927 to 1930, aggregating, principal and interest, $31,846.85. It was alleged that the warrants had been transferred by the payees to the First State Bank of Ringling, which bank was the county depository and also the school district depository, and that the warrants were assigned from time to time by the bank to the county as security for county funds on deposit. It was alleged that the bank failed April 13, 1931, and that…