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SEARCY FEDERAL SAVINGS & LOAN ASS'N v. CITY OF SEARCY

No. 5-44.

253 S.W.2d 211 (1952)

SEARCY FEDERAL SAVINGS & LOAN ASS'N et al. v. CITY OF SEARCY et al.

Supreme Court of Arkansas.

December 15, 1952.

Attorney(s) appearing for the Case

C. E. Yingling and C. E. Yingling, Jr., Searcy, for appellants.

Culbert L. Pearce, Searcy, for appellees.

ROBINSON, Justice.

In the City of Searcy there are several improvement districts which have accomplished the purpose for which they were organized years ago, and all of the bonds have been paid. These districts have on deposit unexpended funds in various amounts with the Searcy Federal Savings and Loan Association, the Security Bank and the Searcy Bank. The City Council of Searcy passed an ordinance creating what is known as Consolidated Street Improvement District...

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