Freehill v. Chamberlain

Citations

• 65 Cal. 603
• 4 P. 646
• 1884 Cal. LEXIS 647

Syllabus

<p>Statute of Limitations—Municipal Bonds—Interest Coupons,—Where a statute provides fcr the issuing of bonds of a city, with interest coupons payable as fast as money should come into the treasury from special sources designated by the act, the Statute of Limitations does not commence to run against the coupons until the money is received in the treasury in accordance with the terms of the act.</p> <p>Sacramento Bonds—Coupons—Demand.—The interest coupons upon bonds of the city of Sacramento, issued under the Act of April 24, 1858, are not demands which are required to be presented for allowance to the auditor or board of trustees. They are payable on presentation to the treasurer, whenever there are funds in his possession which have been appropriated to the payment of the coupons by the act authorizing the bonds.</p>