State v. Town of Lake Placid

Terrell, C. J. —

The City of Lake Stearns was created by Chapter 11586, Special Acts of 1925, embracing an area of more than 28 square miles. It was abolished by Chapter 12990, Special Acts of 1927, and the Town of Lake Placid created in its place embracing an area of about 73 miles, including that formerly embraced in the City of Lake Stearns. In. 1928 and 1929, the Town of Lake Placid incurred a heavy indebtedness which was evidenced by general improvement and street improvement bonds. The general improvement bonds were validated by decree of the 'circuit court. West, et al., v. Town of Lake…