City of Hickman v. First Nat. Bk. of New York

Opinion of the Court by

Stanley, Commissioner

Affirming.

The City of Hickman seeks to have its bonds to the amount of $28,000, issued as of March 1, 1929, held invalid. The bonds bear 6% interest and all will mature March 1, 1949. It appears that no sinking fund has been set up to pay them, and the interest has not been paid for many years. The circuit court adjudged the bonds to be a binding obligation of the City and, in accordance with the counterclaim of the defendants, rendered judgment against the City for $33,732.30, and interest, the same being evidenced by semi-annual coupons attached…