duPont v. Mills

Layton, C. J.,

delivering the opinion of the majority of the Court:

The enabling act provides that any or all of the bonds issued under its authority may be redeemed at the option of the Board of School Trustees at par and accrued interest at any interest period after the expiration of five years from their date; and it provides, further, that if the Board shall elect to redeem any or all of the bonds, the redemption shall be in pursuance of a prescribed notice.

The bonds tendered the plaintiff by the defendant are, specifically, not redeemable prior to their respective maturity dates.…