[DOWNLOAD] "L. W. Middleton v. Post Transportation Co." by Second Appellate District, Division Two District Court Of Appeal Of California ~ Book PDF Kindle ePub Free
eBook details
- Title: L. W. Middleton v. Post Transportation Co.
- Author : Second Appellate District, Division Two District Court Of Appeal Of California
- Release Date : January 04, 1951
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
The City of Glendale, petitioner herein, by ordinance No. 2485 of its city council authorized the issuance of 210 revenue bonds of the par value of $100,000 each and provided for them to be payable in consecutive, numerical order to bear interest at 3 per cent per annum, payable semiannually. The purpose of the issue is to provide moneys for the construction of a reservoir and the acquisition and construction "of additions to and extensions and improvements" of the citys waterworks system. All formal requirements to make the bonds negotiable have been executed except the signing of the bonds by the citys treasurer and clerk. The latter respectively have refused to sign and countersign the bonds on the ground that article XXVI of the city charter and Ordinance 2485 are invalid in that they authorize the incurring of an indebtedness by petitioner, contrary to section 18 of article XI of the Constitution. The sole question for decision then, is whether the issuance of such revenue bonds is violative of the specified section of the states Constitution.
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