Cowan v. Thompson

Counsel for appellees has correctly stated the case and the issues as follows: “The Luxora & Little River Road Improvement District No. 2 was created by orders of the county court under the Alexander Road Law, many years ago, and the limit of its right to issue -bonds to the extent of 30 per cent, of the assessed value, as provided by the Alexander Road Law, was raised to 50 per cent, -of the assessed value by special act No. 253, passed by the -General Assembly in 1920'. Bonds were issued amounting to approximately 50 per cent, of the assessed value of real property in the district, and the…