Harman v. Alabama College

FOSTER, Justice.

This suit is closely related to one between the same parties reported in 234 Ala. 446, 175 So. 394, but predicated on a different claim.

Its purpose is to test the right of the Alabama College, a corporation, by its trustees to borrow $200,000 from the Federal Emergency Administration of Public Works, for the erection of .a co-operative house dormitory, and the beautification of the grounds connected with it; and for that purpose to issue bonds or warrants for its repayment with interest not to exceed 4 per cent.; and to secure their payment there is to be pledged the college…