Case ID: ohio-law-abs_2/html/0407-03.html
Source: Caselaw Access Project
Author: {"author": "ROBINSON, J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

No. 380
    No. 18195
    State ex rel City of Cleveland Heights v. Charles C. Frazine, Director.
    Error to the Court of Appeals of Cuyahoga county.
    165. BONDS — Provision requiring municipalities to offer them to Industrial Commission at par before marketing is unconstitutional,
   ROBINSON, J.

1. Section 1465-58, General Code, attempts to require municipalities before advertising a bond issue for sale to first offer the same to the Industrial Commission of Ohio at par and accrued interest.

2. Section 1465-58, General Code, in so far as it attempts to require municipalities and other taxing districts before advertising a bond issue for sale to first offer the same to the Industrial Commission of Ohio at less than market value, is unconstitutional and void.

Judgment affirmed.

Marshall, C. J., Jones, Matthias, Day and Allen, JJ., concur. Wanamaker, J., not participating!