105 Ky. 226 | Ky. Ct. App. | 1899
delivered the opinion of the court.
By Ms suit in the Madison Circuit - Court, the ’appellant, a citizen and taxpayer of this county, seeks to enjoin the issual, sale, and delivery of certain bonds of the county about to be issued by the fiscal court in virtue of authority claimed to have been conferred on that court by an election for that purpose held in November, 1898. His first objection grows out of alleged irregularities in the preliminary election of November, 1896, when the question of authority to free the turnpikes of the county was submitted to the vote of the people, under the act of March 17, 1896. That act provides that “upon written application, directed to the couniy judge of any county in this Commonwealth, asking for a vote in said county upon the proposition to have free turnpike and gravel roads in' said county, signed by a number of voters of said county, equal to fifteen per cent, of the vote cast at the last preceding general or county election in said county, it shall be the duty of the judge of the county court, at the next regular term thereof after receiving said petition, to make an order in his book, directing an election to be held,” etc. It appears that beginning on the first day of the regular July term, 1896, of the Madison County Court and thereafter, at called terms of that court, during the month of July, written petitions Or applications, of the character required by the act, supra, were presented to the county judge, and filed in the county court, and the number of signers thereof was more than fifteen per cent, of the vote cast at the last preceding-general and countyelection. The question raisedis whether
But- — and this brings us to the appellant’s second objection — this result, or the certificate of the result, of the vote, while it was returned as the law requires, was not spread on the order book of the county court at the next
The only remaining question is with respect to the nature and form of the bonds proposed to be issued. The act provides that the bonds shall “bear interest not to exceed 6 per cent, per annum with coupons attached, payable semiannually; these bonds to be in denominations of not less than one hundred dollars, or more than one thousand dollars, to run not more than thirty years and to be redeemed within that time at the pleasure of the court and to be sold at not less than par value.” It appears that the bonds proposed to be issued are to run not more than twenty years, and the fiscal court has fixed the time for their redemption after the expiration of six years, and within twenty years, from the date of their execution; certain of them falling due the sixth year after the date of their execution, and certain others falling due each successive year thereafter, until the twentieth year, when the last of them are to be redeemed. It is contended that this plan of redemption is not in conformity with the provision that the redemption is to be “at the pleasure of the court.” We are of opinion, however, that to so fix the time of redemption, as is done-in the bonds proposed, is the exercise of the “pleasure of the court,” within the meaning of that provision of the act. The statute did not contemplate that the time of redemption was to be left uncertain. This would certainly affect injuriously the value of the bond. It was the intention