HICKS, Circuit Judge.
At an election held August 4, 1928, the voters of Pulaski County, Ky., authorized the issuance of $300,000 of bonds for the purpose of constructing roads and bridges, and on August 7, 1930, the Fiscal Court, purporting to comply with Sec. 157a of the Constitution of Kentucky and Sec. 4307 of Carroll's Kentucky Statutes of 1922, sold $280,000 of these bonds to Caldwell & Company. In October, 1932, appellee, Eichstaedt, purchased $40,000 of...
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