Board of Education v. Citizens Fidelity Bank & Trust Co.

STANLEY, Commissioner.

• In accordance with KRS 418.020, the Board of Education of Louisville and all the Louisville, banks and trust companies submitted to the circuit court, without formal action, a statement of facts and contentions of law with respect to the taxability of shares of bank stock under a levy of a special and additional rate for financing the acquisition, improvement or building, of school property as provided by KRS 160.-477, an Act of 1950, Ch. 142. The Board of Education appeals a decree that the tax on the shares of stock cannot exceed forty cents on the $100 valuation, as…