Utica State Savings Bank v. Village of Oak Park

The plaintiff bank, as assignee of vendors under land contract, sought foreclosure in chancery against the defendant village, the vendee. The assignment was for sefcurity only and so the original vendors are also parties plaintiff. The contract in question is dated February 26,1929, and covers land purchased by the village, through its commission, which land was intended to be used as a site for a town hall. The purchase was authorized by a resolution dated February 26,1929, and adopted by four of the five village commissioners, one being absent. The resolution recited an appropriation of…