Lawson v. Board of Education of Greenup County School District

Opinion op the Court by

Judge Stites

— Affirming.

\ This is an appeal from a judgment of the Greenup circuit court approving an issue of refunding bonds which the board of education of Greenup county proposes to sell for the purpose of refunding a floating debt of approximately $50,000 at a lower rate of interest than it is now paying on the debt. It is not disputed that the board has authority thus to refund a valid debt. Lee v. Bell County Board of Education, 261 Ky. 379, 87 S. W. (2d) 961. The only point at issue is whether or not the debt sought to be refunded is itself a valid obligation of…