Seward v. Bowers

ZINN, Justice.

Appellant, a resident taxpayer and water user of Springer, N. M., sought to enjoin the appellees, the mayor and board of trustees of the town of Springer, from making, executing, and delivering to the Reconstruction Finance Corporation $37,500 revenue bonds for a loan of an equal amount, the bonds to be paid exclusively from net revenues to be derived by the municipality from the operation of its municipally owned waterworks system ; the money to be used in the betterment, replacement, and improvement of the present system.

The proposed bonds are to be issued pursuant to Laws…