Decision on Water Works Bond Issue

Decision on Water Works Bond Issue

The Court of Appeals at Frankfort, Ky., has held invalid the $200,000 water works bond issue of the City of Covington, reversing the Kenton Circuit Court in ex parte proceedings brought by the city. The election was declared invalid because the ordinance did not specify the amount which would have to be raised each year to provide for the sinking fund and interest. The court in an opinion by Judge Turner said it would be satisfactory if the “ordinance states that the annual assessment for the purpose of paving the interest and creatins a sinking fund shall not exceed a stated amount.”

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