Peoples Nat. Bank of Tyler v. City of Tyler

WILLIAMS, Justice.

The Peoples National Bank of Tyler sued the City of Tyler, a municipal corporation, to recover on 4 sanitary equipment revenue bonds of $1,000 each, with interest and attorney fees. This was the balance unpaid of an original amount of $9,500 issued in July, 1931, by the city to .Sanitary Appliance Company and by the latter sold and delivered to the bank for a valuable consideration. They purport to-have been issued under Article 1111, R.C.S., Vernon’s Ann.Civ.St. art. 1111, pursuant to a purchase agreement with said company of 400 Saco Pit Toilets. Same is identical with the…