Cases Argued and Decided in the Supreme Court of Mississippi Volume 70 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1893 Excerpt: ...failing so to do, that it should forfeit its charter and franchises as to so much of said road as should not be completed under the requirements of the act, and that all bonds voted by the people, or issued by the board of supervisors, for the portion of the road not built, should be void. On April 3,1892, nine months before the time for the completion of the road under the agreement for the extension of time, the appellant, Fred Clark, a citizen of Rosedale, on behalf of himself and other tax-payers of said town who might choose to join in the suit, filed the bill in this case against the town of Rosedale and said railroad company, averring that said bonds were void, because the railroad had not been completed within the time stipulated, and praying that the bonds should be canceled. The defendant answered, and a decree was entered dismissing the bill, from which complainant appeals. Section 19 of the act of 1890, under which the subscription was made, authorizes the municipal authorities, upon the petition of twenty freeholders who are voters, stating the amount and terms of the subscription, to order the election and provide for holding the same, and that the result of the election shall be entered on the minutes of the board. Section 20 provides that if the election is in favor of subscription, the mayor shall subscribe to the capital stock, and, when author70 Miss.--35 Brief for appellees. ized by the qualified electors, shall deliver to the company the bonds of the municipality. Laws 1890, p. 690. Fred Clark, pro se. 1. The condition under which the bonds were voted and issued was not complied with by the railroad company, and therefore, under the coutract, the bonds were void, and the matter stood as if there had been no election. 2. The subsequent p...