[DOWNLOAD] "City of Philipsburg v. Porter" by Supreme Court of Montana ~ eBook PDF Kindle ePub Free

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eBook details

• Title: City of Philipsburg v. Porter
• Author : Supreme Court of Montana
• Release Date : January 01, 1948
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 60 KB

Description

1. Municipal corporations ? Redemption of bonds before maturity. Bonds issued by a municipal corporation in 1937 for a longer term than five years and containing no recital as to redemption before maturity at the option of the municipality were not redeemable befor maturity over the objections of the bond holder, notwithstanding a subsequent amendment of the statute so as to provide for redemption of bonds issued for a longer term than five years at the option of the municipality and requiring the bonds to so recite. 2. Municipal corporations ? Bonds ? Law in force becomes part of contract. The law in force when the municipal bonds were issued became a part of the contract with the bondholders as fully and completely as though incorporated in the bonds. 3. Constitutional law ? Effect of later statute on bond contract. A statutory amendment making all bonds issued for a longer term than five years redeemable before maturity at the option of the city does not apply to bonds issued and sold before its enactment and, - Page 189 if given such retroactive effect, amendment would be unconstitutional as impairing the obligation of contracts. 4. Statutes ? Presumption that statutes operate prospectively only. The presumption is that statutes are intended to operate prospectively only and ought not to have a retroactive operation, unless they are so clear, strong and imperative that no other meaning can be annexed to them. 5. Statutes ? Extrinsic aids to construction of law forbidden. The statute declaring the rule against retroactive operation of a law unless expressly so declared forbids the consideration of extrinsic aids to the construction of a law in regard to its prospective or retroactive operation. 6. Constitutional law ? Construction should favor constitutionality of law. Where two constructions of a statute are possible one of which would render the statute unconstitutional and the other sustain its validity, the latter interpretation must be adopted. 7. Municipal corporations ? Act of state office does not work estoppel against state. Municipal bonds purchased by the state board of land commissioners were owned by the state and the letter from the cashier of the department of state lands and investments indicating the bonds might be redeemed before maturity at the option of the municipality did not estop the state from insisting upon its right under the terms of the bonds as issued and the statute then in effect to prevent such redemption. 8. Estoppel ? State not subject to estoppel as is individual. A sovereign state is not subject to an estoppel to the same extent as an individual or private corporation and cannot be estopped by the unauthorized act or representation of its officers.

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