Southern California Roads Co. v. County of San Luis Obispo

This is a petition for a writ of mandate to compel respondents to levy a tax to pay principal and interest on bonds of an improvement district.

*221 In 1930, by resolution of the board of supervisors of respondent county, bonds were authorized under the County Improvement Act of 1921 and the Improvement Bond Act of 1915, to pay for improvement of streets in said county, all of which were dedicated to the county as public highways. Petitioner acquired a number of these bonds, and to-day holds coupons representing unpaid instalments of principal and interest. Demand has been made for payment, and respondents have refused to transfer money into the bond redemption fund, and have also refused to levy a tax to meet the obligation. It is stipulated that a tax of 6 cents on each $100 of assessed valuation of said county will produce the amount necessary to pay the delinquent instalments.

This case comes squarely within the holding of the following recent decisions of this court: American Co. v. City of Lakeport, 220 Cal. 548 [ 32 Pac. (2d) 622 ]; American Securities Co. v. Forward, 220 Cal. 566 [ 32 Pac. (2d) 343 , 96 A. L. R. 1268]; Union Safe Deposit Bank v. City of Menlo Park, 3…