Employers Mutual Insurance v. Board of County Commissioners

THIS is an action against Pitkin county, Colorado, to recover on securities issued by the county and consisting of three of its bonds with one interest coupon attached to each. The district court having entered a judgment in favor of the county, the bondholder brings the case here for review and asks for a reversal.

The bonds are refunding bonds. These and the coupons are in the usual form, all maturing on October 1, 1931, and containing the county's absolute promise to pay. Each instrument constitutes a complete contract in itself, and contains a provision that it is payable at the office of…