Stith v. Board of Education, Etc.

Opinion op the Court by

Judge Cammack

Beversing.

Prior to 1939, the Pendleton County Board of Education had conveyed certain of its school properties to a holding company, known as the Pendleton County School Corporation. The Corporation issued bonds in the amount of $210,000. In 1939, the McKinneysburg school, one of those held by the Corporation, burned. It required some $65,000 to replace the building. Since there was only $15,000 insurance on it, there arose the question as to how the remainder of the cost should be financed. It is asserted in the record before us, as was done in Stith v.…