U.S. Supreme Court
Railroad Company v. Falconer, 103 U.S. 821 (1880)
Railroad Company v. Falconer
103 U.S. 821
1. In accordance with the petition of the taxpayers of a town in New York, dated March 25, 1872, the county judge appointed commissioners, who were empowered and directed to subscribe for stock in a railroad company when its road should be constructed through a certain village. The road was not so constructed until Oct. 20, 1875. Held that as, by the terms of the petition and the proceedings of the judge thereon, the construction of the road was a condition precedent to the exercise by the commissioners of their power to make the subscription, they, being merely agents of the town, had no authority to act in the premises until that condition was performed.
2. A contract, therefore, under date of June 14, 1872, between the company and the commissioners whereby the latter assumed to bind the town to subscribe for stock when the road should be so constructed, being ultra vires, no rights of the company were impaired by the amendment to the constitution of the State (infra, p. 103 U. S. 822), which took effect Jan. 1, 1875, and prohibited all municipal aid to corporations by subscriptions of stock, or otherwise.
3. County of Moultrie v. Savings Bank, 92 U. S. 631, distinguished.
The facts are stated in the opinion of the Court.