Board of Education v. Bitting

Citations

• 9 N.M. 588
• 9 Gild. 588

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Board of Education — Issuance of Warrants — Statutory Inhibition— Power to Incur Indebtedness for School Purposes — Municipal Corporation. — -1. Prior to March 12, 1897, there was no statutory inhibition upon the board of education of a town of New Mexico from issuing warrants evidencing indebtedness up to the four per centum federal limitation, although there was not at the time of their issuance funds in the hands of the treasurer with which to pay the same.</p> <p>2. Said board of education may independently of any political or other municipal corporation or other subdivision of the territory, and regardless of the fact that the corporation known as the town of Eddy is situate wholly.within the same territorial limits, lawfully incur an indebtedness for school purposes not to exceed four per centum of the value of the taxable property within its limits, to be ascertained by the last assessment for territorial and county taxes previous to the incurring of such indebtedness.</p> <p>3. The board of education of the town of Eddy is a distinct municipal corporation, for sehool purposes, and is one of the corporations enumerated in the act of congress of July 30, 1886, known as the federal limitation act.</p>