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STATE OF TEXAS v. TABASCO CONSOL. INDEPENDENT SCHOOL DIST.

No. 10165.

133 F.2d 196 (1943)

STATE OF TEXAS et al. v. TABASCO CONSOL. INDEPENDENT SCHOOL DIST.

Circuit Court of Appeals, Fifth Circuit.

February 1, 1943.

Attorney(s) appearing for the Case

Gerald C. Mann, Atty. Gen. of Texas, and Geo. W. Barcus and Clarence E. Crowe, Jr., Asst. Attys. Gen. of Texas, for appellant.

Chas. E. Thompson, of McAllen, Tex., for appellee.

Before SIBLEY, HUTCHESON, and HOLMES, Circuit Judges.

HOLMES, Circuit Judges.

Reconstruction Finance Corporation appears in the record as the outright owner by purchase prior to June, 1940, of ninety-two percent of the bonds of Tabasco Consolidated Independent School District, and as such owner accepted the offer of composition. The State of Texas owns the remaining bonds and refused acceptance. The decree finds that all bondholders are of one class, and is based on the acceptance

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