Penrod v. City of Sturgis

Opinion of the Court by

Judge Rees

— Affirming.

This is a proceeding under the Declaratory Judgment Act (Civ. Code Proc. sec 639a — 1 et seq.) to have determined the validity of bonds which the City of Sturgis, Ky., proposes to issue for the purpose of funding its floating indebtedness amounting to $15,000, which resulted from deficits in the revenues of the city during 1926 and subsequent years.

The petition set out with particularity each item of indebtedness and the purpose for which it was incurred. The proof shows that the assessed valuation of property subject to taxation for city purposes…