Summary

Stanley Matthews County of Nemaha v. Frank — Opinion of the Court

It it is said that the bonds are precinct bonds, issued by the county commissioners of the county, the duty to pay which rests upon the precinct alone; the mode of payment being by means of a tax to be levied by the county commissioners upon the property within the bounds of the precinct. It is therefore argued that no action will lie against the county in respect to these bonds and coupons, except in case of the refusal of the county commissioners to levy the tax when it ought to be levied, when a mandamus is the sole remedy, being the one prescribed by the statute.
Source: Wikisource

Stanley Matthews County of Nemaha v. Frank — Opinion of the Court

At the time of the vote for said bonds certain persons were attempting to organize a railroad corporation under the name of the Brown ville, Fort Kearney & Pacific Railroad Company, the identical same organization named in said bonds, with a capital stock of two million dollars, but were unable to organize it because unable to obtain a payment on said amount of stock of ten per cent, thereof, as required by law, precedent to the right to do business.
Source: Wikisource

Stanley Matthews County of Nemaha v. Frank — Opinion of the Court

In the transactions of issuing said bonds by defendant, and of receiving the same by said pretended railroad company, neither the defendant nor the said company had any power to act, and all the acts therein on both sides are and ever have been ultra vires, and null and void. The proposition submitted to the voters of said precinct as a basis of the right to issue said bonds was a proposition to subscribe by said precinct one hundred thousand dollars in stock and shares in the capital stock of said pretended railroad company, and pay the same in bonds aforesaid.
Source: Wikisource

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