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MORTON v. DARDANELLE SPECIAL SCHOOL DIST. NO. 15

No. 11793.

121 F.2d 423 (1941)

MORTON et al. v. DARDANELLE SPECIAL SCHOOL DIST. NO. 15 OF YELL COUNTY, ARK., et al.

Circuit Court of Appeals, Eighth Circuit.

June 30, 1941.

Attorney(s) appearing for the Case

James B. McDonough, of Fort Smith, Ark., and S. L. White, of Little Rock, Ark. (House, Moses & Holmes, of Little Rock, Ark., on the brief), for appellants.

Wallace Townsend and Lee Cazort, Jr., both of Little Rock, Ark., for appellees.

Before SANBORN, WOODROUGH, and JOHNSEN, Circuit Judges.

JOHNSEN, Circuit Judge.

The question for decision is whether, under the law of Arkansas, a pledge of the general tax revenues of an urban special school district, made by the school board in some bonds and a deed of trust issued in 1926 for building purposes, is valid and enforcible. The trial court held that the pledge was void, and the trustee for the bondholders has appealed.1

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