City of Kenosha v. Unified School District No. 1

The sole issue is the meaning of the phrase “at a price equal to the principal amount of the then outstanding obligations of such city issued for such school purposes” appearing in sec. 40.807 (4a) (b), Stats. 1965,' which statute the parties stipulated to be applicable to the facts.

Prior to July 1, 1965, Kenosha operated a city school district. Between that date and April, 1967, the towns of Pleasant Prairie and Somers were joined to the city school district. On April 5, 1967, the electors of the three municipalities created the respondent Unified School District No. 1 which is composed of…