PERRY, District Judge.
In 1929 the Board of Education of the City of Chicago (hereafter called the Board) was faced with the serious financial problem of its existence. The very existence of the school system was threatened. No taxes had been collected for the year 1928 and it did not appear likely that any taxes would be collected in 1929. As it later turned out none was collected until 1931.
This situation was in no way the fault of the Board but had come...
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