Town of Oran v. People

The town of Atlanta became indebted on a railroad subscription in the sum of fifty thousand dollars and issued its bonds therefor.

After this liability had been incurred, but before all the bonds were issued, a portion of the territory of the town was, by an order of the hoard of supervisors, pursuant to the statute in such case provided, transferred to the town of Oran. When such a transfer occurs it is the duty of the supervisors and assessors of the respective towns to meet and adjust the affairs of the towns by dividing the assets and apportioning the debts of the town so subdivided,…