MR. JUSTICE HARLAN delivered the opinion of the court.
On the first day of July, 1870, the Board of School Directors of Independent School District of Steamboat Rock, Hardin County, Iowa, issued, in its name, thirty bonds, each for $500, and bearing interest at the rate of ten per cent per annum. Each bond recites that it "is issued by the board of school directors by authority of an election of the voters of said school district held on the thirty-first day of July...
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