Thompson v. City of Peru

This was a proceeding by Thompson, a tax payer, against the city of Peru, incorporated under the general law', to enjoin the latter from issuing bonds for the purpose of raising means with which to pay a subscription of §50,000 to the capital stock of the “ Goshen, Kosciusko, and Peru Railroad Company.” The court below refused the injunction, and sustained a demurrer to the complaint.

Turn questions are presented: 1. Does the 60th section of the act of March 14,1867, for the incorporation of cities, (Acts 1867, p. 62,) authorize the appellee to subscribe the stock, and issue its bonds to pay…