Washington Reports Volume 55. Washington Supreme Court

Washington Reports Volume 55
Author: Washington Supreme Court
Page Count: 288 pages
Published Date: 13 Sep 2013
Publisher: Rarebooksclub.com
Publication Country: United States
Language: English
ISBN: 9781230003146
File size: 14 Mb
Download Link: Washington Reports Volume 55

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ... to extinguish the indebtedness or retire the warrants so as to relieve the property liable therefor, but the object clearly was to take up these warrants and refund them by a bond issue. Money was advanced or loaned by one fund to another in order to accomplish that purpose more readily. ' The city has authority to advance or loan money from one fund to another. City Charter, art. 9, 17. The payment of the original warrants in this way did not, in our opinion, extinguish the indebtedness, but such indebtedness still existed as a charge against the property of the Thirteenth ward, and the city might, therefore, issue funding bonds to be paid by the property in such ward. It may be conceded, for the purposes of this case, that the indebtedness of Ballard prior to annexation was in excess of the constitutional limit, but it does not follow therefrom that the whole of such indebtedness was illegal or required ratification. The excess only would require ratification. The complaint shows that the city has funded but $65,000, which is well within the constitutional limit. It cannot be assumed that the city is funding any of the illegal debt, if any existed. It follows from the fact that Ballard had become annexed to the city of Seattle and was a part of that city, that the provision of the constitution prohibiting cities from loaning their money or credit in aid of any other corporation does not apply in this case. Oct. 1909 Opinion Per Mounr, J. We think no cause of action is stated in the complaint, and the judgment appealed from is therefore affirmed. GENERAL LITHOGRAPHING

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