Trindle v. Consolidated Independent School District

The question of a bond issue was submitted to the voters of the Consolidated Independent School District of Yan Meter on December 27, 1922, and the proposal was duly carried. Pursuant thereto, it was the purpose of the board of directors of such district, named as defendants herein, to issue and sell the proposed bonds. The case came on for trial on April 20, 1923. The record presents no dispute of fact, although the respective arguments are predicated upon conflicting inferences of fact.

It was stipulated upon the trial that the 5 per cent limit of indebtedness permissible to this district…