State Ex Rel. Lauderbaugh v. Little

By the Court.

The sole question before the court is whether bonds may he issued with a maximum maturity period of less than 25 years, where the prior' steps in the bond-issuing proceedings specify & maximum maturity period of 25 years.

Counsel for respondent rely on the per curiam opinion in State, ex rel. Curren, Dir., v. Rees, Dir., 125 Ohio St., 578, 183 N. E., 432. In that case the maximum maturity period was stated in three instances as 22 years and in three other instances as 25 years. The notice of election gave the maximum maturity period as 22 years and on the ballots such period was…