Sarby v. Morey

Albert, J. —

It appears from the record that at one time there existed a school corporation known as the Independent School District of Olin. By due and proper proceedings, a consolidated school district was formed, including said Independent School District of Olin and adjoining and adjacent territory. At the time of the creation of the consolidated district, the Independent District of Olin had outstanding bonds in the amount of about $5,000. These bonds matured after the consolidation, and the consolidated district refunded the same by issuing new bonds to pay off the old. At the time of…