People ex rel. Davis v. Middleton

Citations

• 14 Cal. 540

Syllabus

<p>The Commissioners of the Funded Debt of the eitv of San Francisco have power, under the 12th Section of the Act of May 1st, 1851, authorizing- them to sell the realty conveyed to them by the Commissioners of the Sinking Fund, created by ordinance of said city, to receive the “ three per cent, scrip” of the city instead of cash on the sale, it being conceded that the assets of the city were sufficient to pay all debts.</p> <p>Query, whether the Statute of Limitations runs against a trust like this of the Commissioners of said funded debt, and whether they may not pay claims barred.</p>