Savage v. Neal

The hill was filed by taxpayers of the city of Knoxville to recover from defendants, former city commissioners and their sureties, on their official bonds, for failure to create and pay over to sinking fund commissioners annually tax funds in an amount sufficient to redeem outstanding bonds of the city at maturity, as they were required to do by charter provisions.

The language of the charter upon which liability is predicated is as follows:

“Be it further enacted, that any failure upon the part of the said board of commissioners to create, appropriate, and set apart the sinking fund annually,…