First National Bank v. School District No. 64 of Cook County

The First National Bank of Mackinaw, Illinois, on its own behalf and on behalf of other holders of certain building bonds of School District No. 64 of Cook county, filed a bill for an accounting and an injunction to restrain the School District, its president, secretary, and treasurer, from paying the face value of certain tax anticipation warrants issued by said School District and owned by the defendants, until the building bonds and accrued interest, owned by plaintiff, are paid in full.

A decree was entered in the superior court upon a stipulation of facts incorporated in the decree, which…