Nesbit v. Independent District of Riverside
Citation | 12 S.Ct. 746,144 U.S. 610,36 L.Ed. 562 |
Parties | NESBIT v. INDEPENDENT DISTRICT OF RIVERSIDE |
Decision Date | 18 April 1892 |
Court | United States Supreme Court |
Action by Eleanor Nesbit against the independent district of Riverside to recover on certain bonds issued by the district. Judgment for defendant. Plaintiff brings error. Affirmed.
STATEMENT BY MR. JUSTICE BREWER.
This was an action on five bonds purporting to have been issued by the school district defendant. The case was tried by the court without a jury. Special findings of facts were made, of which the following are the only ones material to the questions presented:
'(2) The value of the taxable property within the boundaries of the independent district, as shown by the state and county tax lists, was for the year 1872 forty-one thousand four hundred and twenty-six dollars, and for the year 1873 sixty-eight thousand three hundred and seven dollars.
'(3) That on the 26th and 27th days of March, 1873, the indebtedness of said independent district, exclusive of the bonds declared on in this action, exceeded the sum of thirty-five hundred dollars.
'(4 1/2) That all of said five bonds and the coupons attached belong to the same serles, and were issued at the same time, under the same circumstances, and part of the same transaction.
'(5) That the plaintiff, who is a citizen of Great Britain, bought these bonds, and all the interest coupons belonging thereto, as an investment from one Henry Hutchinson on the 20th day of December, 1877, paying him therefor the sum of two thousand dollars; that said plaintiff, when she made such purchase, had no other knowledge concerning the bonds, or of the facts connected with their issuance, than she was chargeable with from the bonds themselves, and from the provisions of the constitution and laws of the state of Iowa.
'(6) That said bonds were issued without consideration.
'(8) Under the statutes of Iowa, in force in 1872 and 1873, regulating the assessment of property for the purpose of state and county taxation, the lists thereof could not be computed before the month of August, and in March, 1873, when these bonds were issued, the last computed tax list was for the year 1872.'
Upon these facts judgment was entered in favor of the defendant, (25 Fed. Rep. 635,) to reverse which judgment this writ of error was sued out.
25 Fed. Rep. 635, affirmed.
W. Willoughby, for plaintiff in error.
[Argument of Counsel from pages 613-617 intentionally omitted] Mr. Justice BREWER, after stating the facts in the foregoing language, delivered the opinion of the court.
Article 11, § 3, of the constitution of Iowa of 1857, ordains that 'no county, or other political or municipal corporation, shall be allowed to become indebted in any manner, or for any purpose, to an amount in the aggregate exceeding five per centum on the value of the taxable property within such county or corporation, to be ascertained by the last state and county tax lists previous to the incurring of such indebtedness.' Under that section, the limit of indebtedness which the district could incur at the date of the issue of these bonds was $2,071.30. It was...
To continue reading
Request your trial-
Smith v. Mosier
...... & Fincke, for Empire State Surety Co. . . RAY,. District Judge. . . On or. about the 16th day of November, 1903, ......
-
Harrison v. Remington Paper Co.
...... SANBORN and VAN DEVANTER, Circuit Judges, and ADAMS, District. judge. . . SANBORN,. Circuit Judge. . . ...Edminson, 54 C.C.A. 601, 604, 117 F. 427, 430; Independent School District v. Rew, 49 C.C.A. 198, 207, 111 F. 1, 10, 55 L.R.A. 364. ... Cromwell v. County of Sac, 94 U.S. 351, 359, 24. L.Ed. 195; Nesbit v. Independent District, 144 U.S. 610, 619, 12 Sup.Ct. 746, 36 L.Ed. ......
-
Union & Planters' Bank of Memphis v. City of Memphis
......Sac Co., 94. U.S. 351, 24 L.Ed. 195; Nesbit v. Independent. Dist., 144 U.S. 610, 12 Sup.Ct. 746, 36 L.Ed. 562;. ......
-
Independent School Dist. of Sioux City v. Rew
...... defendant in error, Robert Rew, brought an action against the. independent school district of Sioux City, Iowa, the. plaintiff in error, upon 10 school district bonds, of $1,000. each, and ...42; Amy v. City of. Dubuque, 98 U.S. 470, 473, 25 L.Ed. 228; Nesbit v. Independent Dist., 144 U.S. 610, 12 Sup.Ct. 746, 36. L.Ed. 562; Edwards v. Bates Co., 163 ......
-
The Municipal Bond Cases Revisited.
...Lake Cty. v. Graham, 130 U.S. 674 (1889); Dist. Township of Doon v. Cummins, 142 U.S. 366 (1892); Nesbit v. Indep. Dist. of Riverside, 144 U.S. 610 (1892); Sutliff v. Board of Comm'rs of Lake Cty., 147 U.S. 230 (1893); (96) 130 U.S. 674 (1889). (97) 142 U.S. 355 (1892). (98) Graham, 130 U.S......