Helena Special School District No. 1 v. Kitchens
Supreme Court of Arkansas
Appeal from Phillips Circuit Court; Hance N. Hutton, Judge; STATEMENT BY THE COURT. The appellant borrowed $100,000 and mortgaged its property for the purpose of paying for a high school building. The trustee for the mortgagees placed the money with the Guarantee Loan & Trust Company of Helena to be paid out by it for the construction of the high school building and its equipment.
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Appeal from Phillips Circuit Court; Hance N. Hutton, Judge; STATEMENT BY THE COURT. The appellant borrowed $100,000 and mortgaged its property for the purpose of paying for a high school building. The trustee for the mortgagees placed the money with the Guarantee Loan & Trust Company of Helena to be paid out by it for the construction of the high school building and its equipment. Drafts on the Guaranty Loan & Trust Company were signed by the president and secretary of the school board, accompanied by a progressive estimate of the architect. The president and secretary of the school board…
1Opinion of the Court
Smith, J.,
(after stating the facts). Article 7, § 46, of the Constitution provides: ‘ ‘ That the qualified electors of each county shall elect one treasurer, who shall be ex-officio treasurer of the common school funds of the county.” Section 3509 of Kirby’s Digest provides: “He (the treasurer) shall be allowed as commissions on the aggregate amount of all school funds of the county that come into his hands in any one year, the rate of two per cent and no more, provided that if any county treasurer shall have taken commissions from any part of the school funds, the same shall not be subject…
2Cases cited1 opinion
- Honey v. Greene CountySupreme Court of Arkansas · 1912
3Cited by6 opinions
- Black v. Special School District No. 2Supreme Court of Arkansas · 1915
- Haley v. ThompsonSupreme Court of Arkansas · 1915
- Opinion No., Arkansas Attorney General Reports1992
- Opinion No., Arkansas Attorney General Reports2010
- Opinion No., Arkansas Attorney General Reports1993
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