Bissell v. City of Kankakee

Citations

• 64 Ill. 249

Syllabus

<p>1. Municipal corporations—of their power to issue bonds. Under the general power incident to municipal corporations, where there is no express authority, to issue their bonds for existing indebtedness or for the purpose of borrowing money for municipal purposes, is not included the ■ power to issue these bonds as a simple donation.</p> <p>2. Same—bonds of, issued without authority, whether void in the hands of innocent purchasers without notice. The bonds of a municipal corporation, issued without legal authority, are void even in the hands of an innocent purchaser without actual notice of the want of power in the corporation to issue them. The authority of a municipal corporation to issue bonds being derived from public laws, and the avenues to information in regard to the laws and ordinances of such corporations being open to public inspection, the holder of such securities will be presumed to have' examined them and to have known whether the corporation had the requisite power to issue the bonds.</p> <p>3. Judgment on overruling demurrer—whether should be final. Where . there are several pleas, and a demurrer is overruled to one of them, which answers the whole declaration and is in bar of the action, if the plaintifl’ elects to stand by his demurrer, the defendant is entitled to final judgment.</p>