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GUARDIAN SAVINGS & TRUST CO. v. DILLARD

No. 7291.

15 F.2d 996 (1926)

GUARDIAN SAVINGS & TRUST CO. v. DILLARD.

Circuit Court of Appeals, Eighth Circuit.

November 15, 1926.

Attorney(s) appearing for the Case

Charles D. Frierson, of Jonesboro, Ark., for appellant.

James S. McConnell, of Nashville, Ark., for appellee.

Before STONE and LEWIS, Circuit Judges, and SYMES, District Judge.

STONE, Circuit Judge.

In 1919, the Legislature of Arkansas perpetrated an orgy of local improvement legislation. It passed more than 600 separate acts, each authorizing the formation of a defined special district for the purpose of highway or drainage or levee improvements. Such districts were empowered to issue bonds. It has been stated that the total bond issues authorized under these acts totaled more than $120,000,000 and that bonds to the amount of about $68...

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