Arrowood v. Board of Education of Paintsville Graded School Dist.

Opinion of the Court by

Chief Justice Stites—

Affirming in part and reversing in part.

This is the second appeal of this case. See Arrowood v. Board of Education of Paintsville Graded School District, 269 Ky. 464, 107 S. W. (2d) 324. The proceeding was brought for the purpose of securing judicial approval of an issue of $30,000 in 5 per cent, funding bonds by the Paintsville Graded School District. In the opinion on the former appeal it was pointed out that the proof failed to show the actual income-of the school district during the years when the indebtedness sought to be funded was created or…