[DOWNLOAD] "Farbo v. School Dist. No. 1 of Toole Co." by Supreme Court of Montana # eBook PDF Kindle ePub Free

eBook details

Title: Farbo v. School Dist. No. 1 of Toole Co.
Author : Supreme Court of Montana
Release Date : January 16, 1933
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 73 KB

Description

Schools and School Districts ? Indebtedness ? Constitutional Limitation ? Issuance of Funding Bonds to Retire Warrants Issued Beyond Limit ? Injunction ? Power of Trustees ? What Constitutes Indebtedness ? Uncollected Taxes not Deductible from Gross Indebtedness. School Districts ? Indebtedness ? Constitutional Limitation. 1. Under section 6, Article XIII, Constitution, prohibiting cities and school districts from becoming indebted in any manner or for any purpose in the aggregate exceeding three per cent. of their taxable property, warrants issued for current expenses in anticipation of revenue to be collected under valid tax levies made must be considered in determining whether a districts limit of indebtedness has been reached. Same ? Indebtedness ? Uncollected Taxes not Deductible from Gross Indebtedness to Arrive at Net Indebtedness. 2. "Indebtedness" of a school district, within the constitutional provision limiting it, means what it owes, irrespective of demands it may have against others; hence in determining whether a district has reached its limit, uncollected delinquent taxes are not deductible from its gross indebtedness.