Webster County Board of Education v. Hocket

Opinion of the Court by

Judge Rees

Affirming.

This is an appeal from a judgment of the Webster circuit court approving an issue of refunding bonds which the Board of Education of Webster County proposes to sell for the purpose of paying off a debt of $26,000.

The- proof shows that during the years 1929 to 1935, inclusive, there was a shortage in the revenues of the Board of Education of approximately $27,000. During that time the board incurred no indebtedness in excess of the income and revenue anticipated in its regular budget. It is conceded that the debt is valid and may be refunded, but it…