Bates v. Gerber

I concur in the judgment. Even if these coupons bear interest after maturity, or after non-payment for want of funds at or after maturity (which is not conceded), the treasurer did all that he was required or authorized to do when he offered to pay the face of the coupons upon condition of their surrendei to him; and the condition was one which he was not only authorized, but which it was his duty, to impose.

The bond from which each coupon was severed, as well as the act under which it was issued, was a part of the contract made between the municipality and the person to whom the bond was…