Burch v. City of Pauls Valley

Acting upon the purported authority of House Bill 466 (L. 1947, p. 56 et seq., sec. 311 to 318, inc., *79Tit. 11 O. S. Supp. 1947), the city of Pauls Valley enacted an ordinance authorizing the issuance of bonds of the city in the total amount of $585,000, payable from a portion of the net revenues to be derived from the water system of the city after its improvement and extension with the proceeds to be derived from the sale of said bonds. The portion so used bears the same relation to the balance of said revenue as the value or cost of the new extension bears to the appraised value of the old…