Meyer v. Brown

Citations

• 65 Cal. 583
• 4 P. 25
• 1884 Cal. LEXIS 642

Syllabus

<p>Mandamus—Contract—Bonds.—An act of the legislature abolished the corporation known as “ the mayor and common council of the city of Sacramento,” and vested its property and rights in a corporation named the “ city and county of Sacramento.” The act provided for the issuing of bonds of the city of Sacramento for the funding and payment of the debts of the city, that fifty-five per cent of the municipal revenues derived from certain named' sources be set apart and appropriated as an interest and sinking fund for the payment of the bonds, and that a tax be levied upon the property within the city limits for that purpose. A subsequent act of the legislature created the “city of Sacramento,” a municipal corporation, and made it the legal successor of the city and county of Sacramento. Meld, that it was the duty of the new corporation to levy and collect the tax for the payment of the principal and interest of the bonds, and that mandamus will lie to compel the levy.</p> <p>Municipal Bonds—Idlegad Issue—Bona Ride Hoddeb.—Bonds of a city, issued, signed, and authenticated as required by the act authorizing their issue, are valid claims in favor of a bona fide holder, although there may have been irregularity or fraud on the part of the agent of the municipality in issuing the bonds.</p>