Wilson v. City of Covington

Opinion op the Court by

Commissioner Hobson—

Affirming’.

The question involved on this appeal is the proposed issue of 'bonds in the sum of $140,000, for the -payment of outstanding notes and warrants, issued by the city of Covington, becoming due July 10, 1927. The city has sold the bonds-proposed to be issued at a premium of $1,834. The bonds bear interest at 4%' per cent., payable semiannually, and are redeemable over a period of 20 years. The validity of the floating debt is conceded. It is also conceded that the credit of the city is at stake and should be maintained. The floating debt was…