The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1881-02-19
THE TOWN BOND SUITS DECIDED.

THE TOWN BOND SUITS DECIDED.
We present no apology for surrender
ing snch considerable portion OF onr
limited space to the decisions of the su-
preme Court in three of the Celebrated
cases" known az "the Donaldsonvllie
bond SUITS" inasmuch as the subject
matter Of these Judgments possesses
local interest that is at once important
and paramount.
Justice Fenner, who prepared the de-
cisions, makes his enunciaton Of the facts
Of the cases and the principles Of law ap-
plicable respectively thereto so clear that
they require only to be read to he under
stood. We shall not consume space,
therefore, by reviewing the various
points calculated, but will refer briefly
to one or two of the mostt prominent.
The "meat" of the decisions is found
in the well established requisite of law
that. aThe Police Juries Of the several
parishes and the constituted authorities
Of Incorporated towns aud cities shall
not have power to incur any debt or Pc
cuniary liability, without fully providing
the means of paying the principal
and interest Of the debt 80 contracted"
In 1866 the town authorities Of Don
jacksonville issued consolidated bonds to
all amount slightly exceeding S22,0OO,
representing, for the most part, old bonds
or notes of the town and yfve years interest
thereon, which accrued during the war.
Thus, nearly forty per cont. of this debt
of $4,000 was the interest which had
accumulated during Il period when the
progress Of an armed conflict suspended
the functions Of civil government in the
South and placed it beyond the power Of
the town of Donaldsonville to pay either
tho interest or principal Of her indebted
ness. At the time Of issuing the new
bonds, The only provision made for their
redemption was the levy of a yearly tax
of $1,000, for ten years. This tax was
collected for four years and applied to
the purchase, at auction, of outstanding
bonds and payment Of the interest on the
debt as it accrued yearly. Other surplus
revenues of the town were similarly APP
piled, and in 1871 tho debt had been re-
duced to about $l7 500. In that year the
bonds were virtually repudiated, the
town authorities resolving to pay no
more of the principal or the interest of
the consolidated debt until the mooted
question Of its validity should bo decided
by the courts.
| The late Fourth Judicial District Court
gave unqualified judgments in favor of
five of the six bondholders who entered
suits to enforce their claims, rejecting
the greater portion Of the Maurin claim
ON the ground of prescription. The Su-
preme Court now revcrscs, or, more cor
rectiy speaking, amends these judgments
by overruling the plea Of prescription,
sustaining the validity Of all the bonds
issued in 1866, but declaring that the
town is only liable for the balance of the
ten-year tax levied as sinking fund to
redeem those bonds. Therefore, the cor
poration stands condemned to pay the
bondholdcrs just $4,000, no more, no less
Had the court not held that the bonds
are restricted to the only provision made
for their payment at the time their is
suance was authorized, we should now
be called upon to pay Il municipal deb,
aggregating, in principal and interest
more than $4,000. The tax payers Of
Donaldsonvillo will therefore appreciate
warmly the relief which the ruling Of til.
Supreme Court has granted them.
The johnson and Braud cases are still
pending, but as their issues are identica
with those of the suits decided on Mon
day, Of course the DEGREES will also bt
similar. 1t now remains for the tow
to collect the special tax Of $4,000 and pa.
, it over to the bondholders in the proper
ton to be fixed by the District Court il
accordance with the order Of the Supreme
Court; also, to pay tho costs Of suit il
the lower tribunal and reward the v:llu;l
bic legal services of Messrs. Nichols 6
Pugh with a liberal fee. Then, thanl
, goodness, the long pen ding and trouble
same consolidated bond controversy ma,
be relegated to tho status of issues Of til,
dead past.
: Before this desirable contamination il
reached, however, the CHIEF will hav,
something moro to say with reference t,
, tho details and equities Of the claims
preferred against the town by the holder
of its bonds.
} Abbeville is rapidly gaming unenviabl
notorlety as great place for poker paying
} One may sec ~ crowd OF players with tlci
corn chips" heaped up around them. il
every coftee-house, wrapt up i'll the entranc
ing beauties of the game which Shenck s.
sklltully calculated to the court Of S,
James. -Me,1dionnl.
- Only poker-playing to complain Of
5 Happy and moral town! Come to Don
: jacksonville, brother Addison, and Sc
e nearly all the gum games Of the gam
blor's calendar in full blast, not only il
cotfee-houses but i'll open booths and o
the public streets then go home an
thank your stars that Abbeyille'S Gun