Louisville v. Bank of Louisville

Citations

• 174 U.S. 439
• 19 S. Ct. 753
• 43 L. Ed. 1039
• 1899 U.S. LEXIS 1511

Syllabus

<p>Stone v. Bank of Commerce, 174 U. S. 412, affirmed and applied to the point that tbe agreement of the commissioners of the sinking fund of Louisville and the attorney of the city with certain banks, trust companies, etc., including the Bank of Louisville, that the rights of those institutions should abide the result of test suits to be brought, was dehors the power of the commissioners of the sinking fund and the city attorney, and that the decree in the test suit in question did not' constitute res judicata as to those not actually parties to the record.</p> <p>Citizens' Savings Bank of Owensboro v. Owensboro, 173 U. S. 636, also affirmed and applied.</p> <p>On questions of exemption from taxation or limitations on the taxing power, asserted to arise from statutory contracts, doubts arising must be resolved against the claim of exemption.</p>