Shearin v. Ballard County

Opinion of the Court by

Stanley, Commissioner

Reversing.

The Ballard County Fiscal Court has ordered the issuance of 5% per cent, bonds to the amount of $47,000 to fund its floating debt. This suit has been brought pursuant to the statutes requiring the validation of such bonds by proving the legality of the debts being funded and that they are within the constitutional limitation. Sections 186e-6, 186c-7, Kentucky Statutes Supp. 1933.

The present indebtedness of the county consists of a balance of $125,000 of a bond issue authorized by the vote of the citizens and of $44,000 of an issue funding…