The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1860-01-07

-. ~. -. ...,-..... Co., A
H."' 49,
concur - opanl0n Win - Cnle1
tnst there 70 power n ne cosntses q snae
State, under the psOsteOns q - COoe &c. ia,
~, q subscribe = - Caplsal 'esue. :fRaa-
road companies and issue cc1nty oonaD 10 -
ment Of the same. s...s@5a,h H sasirs
This u The 6rst tiDe, 70 the court % stRce-
sent constituted, this queseo0n has been fnade,
previous 10 the takinG ef ehe 11oe1Es - ehe -
suing Of the bonds ID he csse, ,of Cp -
Ctdar c0usslv, Iowa, 10. Il wao he1 hy Q ,mnp
j0Eity &C this court, in Which rulIng i occurred
that the bonds Of Colas OexMsy gd " u
Lyons Central Railread Conpeny,s b psyz6ens
for stock in said conpany. subscribsd by -
thereof were sutislsd 70 recover ~ anaount of
the bonds from thc c0Wnay. 4eM rs ta2
A decision 10 the sanse elscs 10 rssaaa = -
case Of Ring VI J0hnDon ccunty. 3 Iowa. 49,
These are TIE only cases before this court 81 -
tions brought upon ths bonds or conpnns, n
which the validity Of sasA bon1s has bsen qies-
toned; and in each of these casea. in my epin-
grounds entirely different from the question ofth
power in the county to take he stock and issue
the bonds. =. x. 8s.sS n8 Essaaf 8@ Il
Independent Of the question the bc,.ds hsA
nassed from the rossession and ownership ar the
railroad connpenics into lt3he Laras cf innocent
purchasers Who Nd inteoua faith psisstlseir mo-
new for the sa,ne, vhichI mouev IA rnup = -
use Of the counties. md heen exueu,1ed by, thcr.
The General Ar.cmhly ~ Ia ects az January.
'26th. l06a a. l4o and lio. n efEstt leexl:yed1
these honda and uneaA them vnlsA "a fineinsps
in the hands Of the holders thsueof. lhe cesSr
above named. therefore. did not neceeso rilv il.
yolye the question " ~ uev1r ef the conntien
to subscribe the stock and issue The konds unaer
the sections Of the code referred TO- :
n The 500 cf Nr16gllan q County Judre and
Treasurer Of Lee county. 8 lows. SO4 srsd Sol.
the question was upon the LEGALITY of the saxl
levied To nav the interest ON honda by the counsy
OF Lee in payment OF ita subscription Of stock
in certain railroads TIE vote taken by sufhori.
ty Of the County Judge. uuon the question ofT
taking said stock hsd been by their .o,lrt
decided 70 be illegal. null and void.
Iowa All. The (;encrsi Assemble had however.
by the act Of January 90 1855. iSesrion acts ..
447l not ONLY lernlineA tha vose taken by tho
County Judge. but had fursher declared IL
bonds issued IN pursuance az such vote ieeal ana
valid. and valid lien upor the TAXABLE properly
Of said county. and had REQUIRED the Cou,ty
Jidge to levy and collect . tax TO inset The pay
ment Of the princinal and interest Of saiJ bOn(ia
Under these circumstances the only question to
he determined vas vhether the Teoislature had
the power to legalize the vote and to declare tho
bonds valid and binding on the county.
As to the power in the Lexislature there has
been at no time any doubt IN nv mind. think
the power NAV by them be conferred upon the
counties to take the stock and issue the bonda
without any constituti,ual obiection: ana vhers
il has been conferred. and the bonds have been
iasued in conformity with IL ar where the honda
though Illegally or informally Issued. have been
subsequently, lccaliaed by he Lcajslature. /
think they are binding upon the couniy and uansG
he Maid.
In the case at present under consideration, the
objection Ia taken IN the firat INSTANCE to the
mower of the county "a issue the bonda Thev
are not vet issued-they have not passed into the
hands OF the Railroad company. nor Of innocent
purchasers for valne
The ouestion Il made. in INV opinion. a the
nroner time "a test The mower Of the To take
stock and issue the bonds. Il il made al time
when it is unincumbered by any question Of 6osa
fde holders. or Of subseuuent ieealization Of the
bonds nv the Lecialature: and hooking al the
nrovisions of the Code under which the mower in
attemped TO be derived. and upon which it il
placed by the oninion OF the Court in the case Of
Dubuaue county ". d. 4 p. Railroad Company,
Greene. |. am clearly Of opinion that no such
mower was intended to be- or has in reality been.
conferred mon the counties.
The question in this case Is to be viewed sim
ply in the light Of the power and authority con-
ferred bv the Leoislature. or intended 70 10 be.
from the ruling Of this Court in the above enti-
tied case which. in INV opinion. il the ouly one
in which the question has been authoritatively
determined. There i distinction to be observed
between the ouestion Of the power Of the coun-
ties 20 issue The honda when made. a. in this
case in the frst instance. and before their issue:
and when made in 1 suit brought upon the bonds
| To recover their amount from the county. by one
| to whom thew have been transferred ~ an inno-
cent purchaser. The courts, in my opinion, may
counties to issue such bonds, to be made upon
an application for an injunction to restrain their