by John Marshall Harlan, Northern National Bank of Toledo Ohio v…
“ This we have always held. If the power exists in the municipality the bona fide holder is protected against mere irregularities in the manner of its execution; but if there is a want of power no legal liability can be created.' So, here, Porter township is estopped by the recitals in the bonds from saying that no township election was held, or that it was not called and conducted in the particular mode required by law. ”
by John Marshall Harlan, Northern National Bank of Toledo Ohio v…
“ The bonds upon their face purport to have been issued 'in pursuance of the provisions of the several acts of the general assembly of the state of Ohio, and of a vote of the qualified electors in said township of Porter, taken in pursuance thereof.' These recitals, counsel argue, import a compliance in all respects with the law, and therefore the township will not be allowed, against a bona fide holder for value, to say that the circumstances did not exist which authorized it to issue the bonds. ”
by John Marshall Harlan, Northern National Bank of Toledo Ohio v…
“ Consequently, from and after March 25, 1851, it was apparent from the terms of the act of that date that Porter township had no legal authority to make a subscription of stock, except in the contingency-which the township could not control, but of which it and all others were bound to take notice-that the commissioners had not been authorized to subscribe for the county. ”
