Joseph McKenna

“ To support the contention that there is no liability to the state for the tax of 1900, it is contended that the property of the Bank of Kentucky was only assessable under the Hewitt law, and before the property was required to be returned for assessment under that law the Bank of Kentucky had ceased to exist, and its property passed to the National Bank of Kentucky, free from any lien. ”

“ The court decided, and it was required to decide in order to give the bank the benefit of the decree, that the state board of valuation was the agent of the municipalities, county and city, and, as a consequence, that judgment rendered against the county of Franklin in the courts of the state, adjudging the Hewitt law a contract between the bank and the state, was binding upon the board of valuation. ”

“ The real parties in interest in this cause among the defendants are Franklin county, the city of Frankfort, and the city of Louisville. It is for them that the board of valuation and assessment are about to apportion the estimated value of the franchise, and to certify it to them for the collection of taxes. ”