Chicago, Danville & Vincennes Railroad v. Town of St. Anne

Citations

• 101 Ill. 151
• 1881 Ill. LEXIS 58

Syllabus

<p>1. Remedy—to compel the issue of corporate bonds. A court of chancery has no jurisdiction to entertain a bill to compel the corporate authorities of a town to issue and deliver its bonds in pursuance of a vote to aid in the construction of a railroad. The proper remedy is by mandamus. Such court has not the power to compel the performance of contracts for the payment of money, or to give notes or bonds.</p> <p>2. Cbeditob’s bile. A bill can not be maintained as a creditor’s bill when not framed as such, nor when no judgment has been obtained and execution returned nulla bona.</p> <p>3. Municipal bonds—of rights in respect thereto. Under an authority to a town to vote a donation in aid of a railroad company, and to levy and collect taxes to pay the same, or to vote such aid and to borrow money to pay the same, and to issue interest-bearing bonds to pay such loans, the company can not be compelled to take bonds of the town in payment, nor can it compel the town authorities to issue bonds to it. The company, in such case, has only a claim for money, and has no right to say how the money shall be raised.</p>