UNITED STATES SUPREME COURT DECISIONS ON-LINE

The trustees or representative officers of a parish, county, or other local jurisdiction, invested with the usual powers of administration in specific matters and the power of levying taxes to defray the necessary expenditures of the jurisdiction, have no implied authority to issue negotiable securities, payable in future, of such a character as to be unimpeachable in the hands of bona fide holders, for the purpose of raising money or funding a previous debt.