U.S. Supreme Court
Rogers v. Keokuk, 154 U.S. 546 (1866)
Rogers v. Keokuk
Submitted January 4, 1866
Decided January 22, 1866
154 U.S. 546
The Legislature of Iowa had power to authorize the City of Keokuk to subscribe for and take stock in a railway company, to issue its bonds therefor, and to lay a tax to pay the interest thereon.
It had also power to give validity to bonds informally issued for such purpose.
A plaintiff who purchases such bonds in the open market is not chargeable with defects or irregularities in their issue.
The case is stated in the opinion.