Lewis v. Tulsa County Excise Board

Plaintiff in error, Arthur Lewis, hereinafter referred to as protestant, prosecutes this appeal from a judgment of the Court of Tax Review denying his protest of a sinking fund levy.

On February 1, 1946, the board of education of the city of Tulsa issued its serial bonds of that date, in the aggregate amount of $4,500,000, and maturing in annual installments of $250,000 from February 1, 1949, to February 1, 1966. The bonds maturing in 1949 to and including 1952 ($1,000,000) bear interest at 3% per annum and the remainder at 1%.

The method provided to retire the Indebtedness was to levy a tax in…