23 La. Ann. 61 | La. | 1871
The Home Mutual Insurance Company, having obtained judgment against the city of New Orleans, issued execution and caused to be seized, as property of the city, certain bonds of the Commercial Water Works and of the Now Orleans and Jackson Railroad, and was proceeding to sell them, when the city obtained an injunction restraining the sheriff from making the sale.
On trial of the case in the court below, the injunction was dissolved, and five hundred dollars as damages were awarded the defendant. The plaintiff in injunction appealed.
In this court the defendant prays an amendment of the judgment rendered by the court a qua, decreeing in its favor eight per cent, interest and twenty per cent, damages on the amount enjoined.
The injunction was prayed for on the ground that the bonds seized have the character of public property, and that an individual creditor can not appropriate to his individual benefit property of that kind destined for the use and benefit of the corporation and of the. people. We are referred to the case of Egerton v. The Third Municipality, 1 An. 435, and the case of the Police Jury v. Michel, 4 An. 84.
These cases, in our view, do not sustain the doctrine contended for.. In the former, the principle was elaborately announced that the paramount interests of public order and the principles of government forbade the right claimed by the plaintiff, as a creditor of the corpora
The bonds, seized in the case now before the court, can not bo regarded as having the same character as that of the tax due the Municipality, or of that of the public buildings in the cases relied upon in the-First and Fourth Annuals. They are not essential to the existence of the corporation nor to the useful and proper exorcise of its functions. The corporation might be dejirived of them without impairing in any degree its capacity to exercise the functions contemplated by the act. of incorporation.
We do not think the circumstances require an amendment of the-judgment.
It is therefore ordered, adjudged and decreed, that the judgment of the district court be affirmed, with costs.