Edward Douglass White

“ The elementary general rule is that on questions of exemption from taxation or limitations on the taxing power, asserted to arise from statutory contracts, doubts arising must be resolved against the claim of exemption. We cannot imply from the mere presence in the extended charter of the limitation of taxation found in the original charter a restraint on the power to repeal, alter, or amend, when such restraint does not flow from the provisions of the extending act taken as a whole. ”

“ It is impossible, in consonance with reason, to conceive of an unlimited, irrepealable contract right, when there is no unlimited, irrepealable contract from which the right can be derived; and yet to such conclusion does the reasoning necessarily conduce which asserts that a repealable charter gave rise to an irrepealable contract right. ”

“ We must construe the extending act as a whole, especially in view of the origin and implied import of acts reserving the power to repeal, alter, or amend, as fully stated in Citizens' Sav. Bank of Owensboro v. ”