Wakefield v. Mayor & Common Council

The application as framed was to bring np for review an ordinance of the borough providing for the purchase of certain land for public purposes at an ascertained price, and also a resolution in connection therewith to borrow from one or more of the local banks certain funds to be used in carrying out the purchase. It appears that the transaction with the banks has been completed; that the money has been loaned, and that the banks hold the obligations of the borough.

At the argument it was conceded, in effect, if not in terms, that the ordinance itself was unassailable, or at least it was not…