Casey v. People ex rel. Patton

Citations

• 132 Ill. 546
• 24 N.E. 570

Syllabus

<p>1. Municipal subscription—to capital stock of railroad—on condition of locating shops—legality of the vote. An election in a township was ordered by the town clerk and supervisor, to vote on the question whether such town should subscribe $10,000 to the capital stock oí a railway company named, payable in bonds issuable when the company should have located and constructed its machine and other shops within the town at an expense of not less than $25,000: Held, that a vote in favor of the proposition was legal, and authorized a subscription to the capital stock of the railway company, but not one to aid in the erection of shops.</p> <p>2. The fact that in such case the vote was upon the condition that the machine and other shops should be located and erected in the town, and the subscription may have been made on that condition, did not affect the right to subscribe to the capital stock of the railway company.</p> <p>3. Municipal bonds—on vote after July 2, 1870. Municipal bonds of a town issued upon a subscription to the capital stock of a railroad company, under a vote of the people at an election held after July 2, 1870, are void.</p>