Evening journal., 1915-10-12

enter into a decision of that sub
ject. but it is perhaps sufficient for
me to say that do not think the act
OF the Legislature invalid on that
ground.
AS to the second point. said chapter
ITO provides among other things as
follows:
"And the said The Board of Public
Education in Wilmington is hereby
authorized and directed to pay inter-
est on said bonds to the Union Ma
tional Bank. in Wilmington, when and
as the same shall become due and
payable, and to pay said bonds when
and as the respective classes mature
in accordance with the foregoing
schedule. The said The Board Of
Public Education in Wilmington shall
annually, until the first installment
of said bonds shall become due and
payable. provide for and set aside
from any money appropriated to its
use by the City Council of Whining
ton. an amount equal to the interest
due each year on said bonds, and as
and when said bonds mature and be-
come payable, shall in like manner
provide for and set aside an amount
equal to the amount of such bonds in
addition to the amount necessary to
pay the interest on the unpaid bonds
as before provided. which shall, when
collected, be set aside in separate
account to be opened for that pur-
pose, and the said The Board of Pub
lie Education in Wilmington shall
apply the said sum annually to the
payment Of such part Of said loan and
interest thereon as may from time TO
time become due ana payable under
the provisions of section of this
act"
The form Of the bond provided for
in that act pledges the faith and
credit Of the Board of Public Educa-
ton in Wilmington for the punctual
payment of the principal and interest
of the bond according to its terms.
The counsel in New York. however,
makes the point that there is no di-
rect provision for laying a tax to pay
these bonds. In the first place, do
not think this is absolutely necessary.
There is a provision that at least $780,
/ 600 shall be appropriated annually
"for the erection or extension OF
/ schoolhouses and for furniture and
heating apparatus for the same" and
/ / think It not unreasonable to hold
| that the court would compel. II neces-
sary, the Board of Public Education
to use this annual sum Of $4,000 to
pay the principal and interest OF
these bonds. which bonds can be used
for no "other purpose than for the
purchase of ground ana erection and
equipment Of public schoolhouses in
the city Of Wilmington"
In addition to that the charter pro-
vides at page 80, that "The Council
shall also at the same time include
the sum necessary to be raised for the
use OF the public schools of the said
city by taxation during the year last
aforesaid, and shall apportion such
amount among the several persons
and estates assessed upon the school
assessment, according TO a certain
rate" etc.
II seems to me that there is nj
doubt in the first place but that all o
the property belonging to the Boar'
Of Public Education is pledged for tn
payment of the interest and principa
Of these bonds and, in the secon'
place. that there is no doubt but tina
City Council could be compelled t
levy such a tax as was necessary I
pay said interest and principal
There is absolutely no doubt in m
mind but that these bonds are bind
ing upon both the Board of Educatio
and the city Of Wilmington. and