Ferguson v. Stebbins

This action arises over a sewer district created under article 11 of the former Town Law (Laws of 1909, chap. 63) before section 237 thereof was amended (Laws of 1927, chap. 647) so as to authorize the financing of the sewer system while under construction by the issuance of short term certificates of indebtedness. Although it was manifest that money would be required to pay installments of the construction cost, engineering and inspection fees and other expenses of the improvement before completion, the only method by which it could be financed was by a long term bond issue for the total…