152 Ga. 795 | Ga. | 1922
1. The judgment of the superior court validating bonds is conclusive as to the school district, the citizens thereof, and all other persons, that the school district has the legal right to incur the debt of the amount and for the purpose indicated in the notice of the bond election, and that the assent of the qualified voters of the district has been obtained for the issuance of the bonds in question, in the manner required by law; and upon all other questions which the constitution and laws require to be determined before authority is conferred upon the district to incur a debt. Baker v. Cartersville, 127 Ga. 221 (56 S. E. 249), and authorities cited; Edwards v. Guyton, 140 Ga. 553 (79 S. E. 195); Dumas v. Rigdon, 151 Ga. 267 (106 S. E. 261).
2. The collection of a tax levied for the purpose of creating a sinking-fund for the purpose of retiring the bonds at maturity will not be enjoined on the. ground that the bonds, duly voted and validated, have not been sold. The constitution of Georgia, article 7, section 7, paragraph 2 (Civil Code (1910), § 6564), provides that there shall, at or before the time of incurring such debt, be an assessment and collection of a tax sufficient to pay such principal and interest within thirty years from the date of the incurring of such indebtedness. “ But where such a delay is for a period of one . . or more years, inasmuch as interest will not be paid during the years elapsing before the bonds are sold, no tax should be assessed and levied for such period of time.” Mitchell County v. Phillips, 152 Ga. 787 (111 S. E. 374).
3. If the plaintiffs failed to' become parties to the proceedings .to. validate the bonds and to set up their objections to the entry of the judgment, as they could have done, they would not now be heard to go
5. In so far as the court refused to enjoin collection of the tax to 'create a sinking-fund, the judgment is affirmed; but in so far as the court refused to enjoin the collection of a tax to pay the interest for the year 1920, the judgment.is reversed.
■Judgment affirmed in part, and, reversed in part.