Fidelity & Deposit Co. v. City of Cleburne

WALKER, Circuit Judge.

On November 20, 1920, the National Bank of Cleburne, Tex. (herein called the Cleburne Bank), as principal, and the appellant, Fidelity and Deposit Company of Maryland, as surety, executed a bond in the sum of $125,000 payable to R. E. Mitchell, mayor.of the city of Cleburne, or his successors in office. That bond contained the following:

“Whereas, the said obligee has designated the 'said principal as the depository of city funds for Cleburne, Johnson county:

“Now therefore, the condition of this obligation is such that if the principal shall, during the term of this bond,…