12 S.D. 241 | S.D. | 1899
The purpose of this proceeding is to compel the defendant, as auditor of the city of Mitchell, to sign, attest, and deliver certain refunding bonds. The cause was heard on an agreed statement of facts. Judgment was rendered in favor of plaintiff, and defendant appealed.
It appears from the agreed statement that the city of Mitchell issued its so-called “water bonds” to the amount of $50,000 on August 1, 1886, in pursuance of an election authorizing the same, held July-20, 1886; that the city is seeking to issue refunding bonds to the amount of $40,000 for the purpose of taking up and canceling such of these water bonds as remain outstanding; that the defendant refuses to sign, attest and deliver the same, for the reason that the water bonds issued August 1, 1886, were illegal and void, in that they exceeded the constitutional limit of indebtedness for municipal cor