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WHITAKER & CO. v. SEWER IMPROVEMENT DISTRICT NO. 1

No. 14900.

221 F.2d 649 (1955)

WHITAKER AND COMPANY, Appellant, v. SEWER IMPROVEMENT DISTRICT NO. 1 OF DARDANELLE, ARKANSAS, et al., Appellees.

United States Court of Appeals, Eighth Circuit.

March 30, 1955.

Attorney(s) appearing for the Case

S. L. White, Little Rock, Ark., for appellant.

Robert J. White, Russellville, Ark. (Herbert C. Scott, Dardanelle, Ark., on the brief), for appellees.

Before GARDNER, Chief Judge, and STONE and THOMAS, Circuit Judges.

STONE, Circuit Judge.

In the municipality of Dardanelle, Arkansas, Sewer Improvement District No. 1 was organized in 1917. In that year, the District issued sixty-five bonds of $500 each, bearing six per centum interest, and maturing annually and serially. After several years, there was default on the bonds. In 1937, the then holder of $18,300 (principal) of the bonds secured a decree in the United States Court for $28,074.01, which included past due interest. In...

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