Dunn v. City of Murray

Opinion op the Court by

Van Sant, Commissioner

—Affirming.

In 1934 the City of Murray purchased from private owners a system of sewers serving the residents of the City, and to finance its cost issued revenue bonds, $48,-000.00 of which are now outstanding. In the year 1942 the City purchased from private owners a waterworks system, and financed its cost by the issuance of revenue bonds, $155,000 of which are now outstanding. The sewer revenue bonds are not redeemable until their due date, and the ordinance authorizing the issuance of said bonds, as well as the bonds themselves, provides that…