Waterworks Improvement District of Ashdown v. Rainwater

Hart, C. J.,

(after stating1 the facts). It is first sought to uphold the judgment on the ground that the bond, by its terms, made the amounts deposited by the improvement districts in the bank payable on demand, and that the granting of the extension of the time of payment for one year by the commissioners constituted a new contract between the bank and the improvement districts which released the sureties on the bond. Wo do not agree with counsel in this contention.

The body of the bond relating to this phase of the case is copied in our statement of facts, and need not be repeated here. Tt…