Stewart v. Henry County
U.S. Circuit Court for the District of Western Missouri
This is an action to recover on three bonds, and the interest coupons belonging thereto, issued by the defendant county. The principal of the bonds aggregates $2,500. The bonds were issued on the 1st day of July, 1882, under what is known as the “Statute for Funding Debts of Counties and Municipalities in the State of Missouri.” The interest on said bonds was represented by coupons attached thereto, payable the 1st day of July each year.
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This is an action to recover on three bonds, and the interest coupons belonging thereto, issued by the defendant county. The principal of the bonds aggregates $2,500. The bonds were issued on the 1st day of July, 1882, under what is known as the “Statute for Funding Debts of Counties and Municipalities in the State of Missouri.” The interest on said bonds was represented by coupons attached thereto, payable the 1st day of July each year. The bonds run for 20 years, with the option reserved to the county to pay off the same at any time after the 1st day of July, 1887. The interest on these…
1Opinion of the Court
PHILIPS, District Judge.
The statute under which the bonds in question were issued does not provide in terms for the redemption at the end of five years, nor prescribe any method therefor; though it does prescribe that no bond under the-act shall be issued to run for a longer period than twenty years, nor less than five years. It was, however, competent for the county, in issuing the bonds, to reserve the right to make them payable at the end of five years after their issue, at its option. This it did, and this fact is expressed on the face of the bond, and the purchaser took subject thereto.…
2Cases cited5 opinions
- Ward v. SmithSupreme Court of the United States · 1869
- Deters v. RenickSupreme Court of Missouri · 1866
- Mahan v. WatersSupreme Court of Missouri · 1875
- Berthold v. ReyburnSupreme Court of Missouri · 1866
- Howard v. Bates CountyU.S. Circuit Court for the District of Western Missouri · 1890
3Cited by5 opinions
- Rodin v. State Ex Rel. City of CheyenneWyoming Supreme Court · 1966
- Philadelphia Saving Fund Society v. BethlehemSuperior Court of Pennsylvania · 1940
- Gavin v. Potter CountyCourt of Appeals of Texas · 1945
- State v. City of TallahasseeSupreme Court of Florida · 1936
- State ex rel. Bithulitic & Contracting, Ltd. v. MurphyNorth Dakota Supreme Court · 1910