Fairfield v. Rural Independent School Dist. of Allison
Court of Appeals for the Eighth Circuit
In Error to the Circuit Court of the United States for the Northern District of Iowa. This is an action upon three negotiable bonds of the independent school ■district of Riverside, which aggregate §2,000, and upon certain coupons attached to them. The case was tried by the circuit court, and a special finding of facts has been made. The constitution of the state of Iowa limited the lawful indebtedness of this district to 5 per cent, of its assessed valuation.
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In Error to the Circuit Court of the United States for the Northern District of Iowa. This is an action upon three negotiable bonds of the independent school ■district of Riverside, which aggregate §2,000, and upon certain coupons attached to them. The case was tried by the circuit court, and a special finding of facts has been made. The constitution of the state of Iowa limited the lawful indebtedness of this district to 5 per cent, of its assessed valuation. Article 11, § 3. The legislature of that state, by chapter 132, Acts 18th Gen. Assem., empowered the board of directors of any…
1Opinion of the Court
SANBORN, Circuit Judge,
after stating the case as above, delivered •the opinion of the court.
These are refunding bonds. The judgments against the school -district and its outstanding bonds aggregated many times the constitutional limit of its indebtedness when these bonds were issued. A por*840tion of the debt evidenced by those judgments and bonds must have been within the constitutional limit and valid. The bonds in suit were exchanged for some of the outstanding bonds. If the bonds for which they were exchanged evidenced a valid indebtedness of the district, the issue of these bonds neither…
2Cases cited22 opinions
- Waite v. Santa CruzSupreme Court of the United States · 1902
- Zabriskie v. Cleveland, Columbus, & Cincinnati RailroadSupreme Court of the United States · 1860
- Evansville v. DennettSupreme Court of the United States · 1896
- Board of Com'rs v. PlattCourt of Appeals for the Eighth Circuit · 1897
- Supervisors v. SchenckSupreme Court of the United States · 1867
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3Cited by13 opinions
- Town of Aurora v. GatesCourt of Appeals for the Eighth Circuit · 1913
- City of Defiance v. SchmidtCourt of Appeals for the Sixth Circuit · 1903
- Town of Newbern v. National Bank of BarnesvilleCourt of Appeals for the Sixth Circuit · 1916
- Hayden v. Town of AuroraSupreme Court of Colorado · 1914
- Miehls v. City of IndependenceSupreme Court of Iowa · 1958
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