Martin v. State Highway Commission

This is an original proceeding to enjoin defendants from issuing and selling debentures provided for by Initiative Measure No. 41, adopted at the general election on November 8, 1938. The action questions the validity of that measure on several grounds.

In general, the Act provides for the issuance and sale of state debentures in the sum of $3,000,000 from time to time as required and determined by the State Highway Commission in order to raise funds for matching federal grants for highways, the debentures to bear interest at a rate not exceeding 4% per annum, payable semi-annually. The…