Judges: DAVIS, J.
Attorneys: E. Dixie Beggs, Jr., State Attorney, for Appellant;
Ernest E. Mason, for Appellee.
Filed: Mar. 26, 1936
Latest Update: Mar. 02, 2020
Summary: This is an appeal from a decree of the Circuit Court of Escambia County validating the issuance of $522,000.00 proposed 4 1/2% refunding bonds, issue of 1935, as authorized by the Florida General Refunding Act, Chapter 15772, Acts 1931, Laws of Florida, and Amended Section 6 of Article IX of the State Constitution. The bonds in question are designed to evidence an extension or renewal, in a new form, of the original existing indebtedness of the obligor municipality, which indebtedness is provide
Summary: This is an appeal from a decree of the Circuit Court of Escambia County validating the issuance of $522,000.00 proposed 4 1/2% refunding bonds, issue of 1935, as authorized by the Florida General Refunding Act, Chapter 15772, Acts 1931, Laws of Florida, and Amended Section 6 of Article IX of the State Constitution. The bonds in question are designed to evidence an extension or renewal, in a new form, of the original existing indebtedness of the obligor municipality, which indebtedness is provided..
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I concur in the conclusion reached in the main opinion in this case only because by a majority holding this Court has established as the law of the State that the exemption contained in Sec. 7 of Article X of the Constitution does not apply to taxes to be assessed and levied to produce funds with which to discharge the obligation
of refunding bonds such as those here under consideration. Such being the law as determined by this Court after deliberate and mature consideration I yield to it my individual opinion as to what the construction should have been and concede that the law as so established is followed in the present case.
ELLIS, P.J., concurs.
