Bk. for Sav'gs, Etc. v. . Grace, Etc.
New York Court of Appeals
Appeal from judgment of the General Term of the Court of Common Pleas in and for the city and county of New York, entered upon an order made February 1,1886, affirming a judgment in favor of plaintiffs, entered upon an.order overruling a demurrer to the complaint herein. This action ’ was commenced by certain individuals and moneyed corporations, citizens and tax payers of the city of New York, and holders of bonds and stocks issued by it.
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Appeal from judgment of the General Term of the Court of Common Pleas in and for the city and county of New York, entered upon an order made February 1,1886, affirming a judgment in favor of plaintiffs, entered upon an.order overruling a demurrer to the complaint herein. This action ’ was commenced by certain individuals and moneyed corporations, citizens and tax payers of the city of New York, and holders of bonds and stocks issued by it. They sue on behalf of -themselves and all others similarly situated, and by their complaint show that the assessed valuation of real estate of the city,…
1Opinion of the CourtDaottorth, J.
■ The question to be determined is, whether or not the u stock or fund created by the corporation of the city of New York,” and held by “ the commissioners of the sinking fund,’’ can be brought within the purview of that provision of the Constitution on which alone the plaintiffs rely, and which declares that no" city ‘ ‘ of over one hundred thousand inhabitants, whose present indebtedness exceeds ten per centum of the assessed valuation of its real estate subject to taxation, shall be allowed to become indebted in any further amount, until such indebtedness shall be reduced within such…
2Cited by19 opinions
- Brooke v. City of PhiladelphiaSupreme Court of Pennsylvania · 1894
- Kelly v. City of MinneapolisSupreme Court of Minnesota · 1895
- Levy v. . McClellanNew York Court of Appeals · 1909
- Spitzer v. . Comrs.Supreme Court of North Carolina · 1924
- Sidney Spitzer & Co. v. Commissioners of Franklin CountySupreme Court of North Carolina · 1924
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