City of Tacoma v. Perkins

The problem presented is this: Does certain money belong to the local improvement guaranty bond fund of the city of Tacoma, or should it be distributed between that fund and the city, as statutory trustee of local improvement district No. 347?

The facts are not in dispute.' Local improvement district No. 347 was established by ordinánce of the city of Tacoma in 1910. The improvements were made; assessments were levied against the property in the district; bonds were issued, to mature in 1920. A portion of the local improver ment district assessments became delinquent. Petitioners are now the…