Green v. Dyersburg
U.S. Circuit Court for the District of Western Tennessee
On the 21st day of March, 1878, in the-United States circuit court at Memphis suit was brought upon past-due coupons of bonds, issued by the town of Dyersburg, of which the following are samples, both of the bonds- and coupons; “(Coupon $8.75.) “The. mayor and aldermen of Dyersburg, Tenn., will pay the bearer on the 10th day of Nov., 1873, eight dollars and seventy-five-cents, being the semi-annual interest due on Paducah & Memphis Railroad bond No. 9G54. C. P. Clark, Mayor.
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On the 21st day of March, 1878, in the-United States circuit court at Memphis suit was brought upon past-due coupons of bonds, issued by the town of Dyersburg, of which the following are samples, both of the bonds- and coupons; “(Coupon $8.75.) “The. mayor and aldermen of Dyersburg, Tenn., will pay the bearer on the 10th day of Nov., 1873, eight dollars and seventy-five-cents, being the semi-annual interest due on Paducah & Memphis Railroad bond No. 9G54. C. P. Clark, Mayor. “W. G. Doyle, Recorder.” “(Bond No. 9654.) ($250.00.) “The mayor and aldermen of the town of Dyersburg, in the state of…
1Opinion of the Court
HAMMOND, District Judge.
Some of the grounds of this demurrer, as stated, are rather in the nature of replications, but I shall treat it as raising the questions made in the argument.
The first question is, as to the power of the town to issue these bonds. The supreme court have declared that “a municipal corporation cannot issue bonds in aid of extraneous objects without legislative authority, of which all persons dealing with such bonds must take notice at their peril.” Town of South Ottawa v. Perkins, 94 U. S. 260-262. And they are equally invalid in the hands of innocent purchasers. Marsh…
2Cases cited17 opinions
- Hitchcock v. GalvestonSupreme Court of the United States · 1878
- Commissioners of Marion County v. ClarkSupreme Court of the United States · 1877
- Town of South Ottawa v. PerkinsSupreme Court of the United States · 1877
- McClure v. Township of OxfordSupreme Court of the United States · 1877
- Harshman v. Bates CountySupreme Court of the United States · 1876
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3Cited by1 opinion
- Norton v. Taxing District of BrownsvilleUnited States Circuit Court · 1888