Ferguson's Appeal

Citations

• 271 Pa. 518
• 115 A. 799
• 1922 Pa. LEXIS 748

Syllabus

<p>Townships — 'Borrowing money■ — ■Promissory note — Deferred time of payment — Township audit.</p> <p>1. Where a township purchases material which is delivered to it in the same year as the purchase, and in the same year gives, for the material, a promissory note, bearing interest, payable in the following year, although there were no funds in the treasury at the time of the purchase or when the note was given, and the note is paid at maturity, the transaction is not a borrowing of money by the township.</p> <p>2. In such case, the fact that the transaction did not appear at the time of the audit in the year in which the note was given, does not bar the supervisors from claiming credit for the payment made in the following year.</p>