has many times had occasion to consider and decide the nature of municipal corporations, their-rights and duties, and the rights of their citizens and creditors. Maryland v.
Balt. & Ohio Railroad, 3 How. 534, 550;
East Hartford v. Hartford Bridge Company, 10 How. 511, 533, 534, 536;
United States v.
Railroad Company, 17 Wall. 322, 329;
Laramie County; v.
Albany County, 92 U. S. 307, 308, 310-312;
Commissioners v.
Lucas, 93 U. S. 108, 114;
New Orleans v.
Clark, 95 U. S. 644, 654;
Mount Pleasant v.
Beckwith, 100 U. S. 514, 524, 525, 531, 532;
Meriwether v.
Garrett, 102 U. S. 472, 511;
Kelly v. Pittsburgh, 104 U. S. 78, 80;
Forsyth v. Hammond, 166 U. S. 506, 518;
Williams v.
Eggleston, 170 U. S. 304, 310;
Covington v.
Kentucky, 173 U. S. 231, 241;
Worcester v.
Worcester Street Railway Company, 196 U. S. 539, 549;
Kies v. Lowrey, 199 U. S. 233. It would be unnecessary and unprofitable to analyze these decisions or quote from the opinions rendered. We think the. following principles have-been established by them and have become settled doctrines of this court, to be acted upon wher.ever they are applicable. - Municipal corporations-are political, subdivisions of the State, created as convenient agencies for exercising such of the governmental powers of the State as .may' be entrusted to them. For the purpose of executing these powers pxuperly and efficiently they usually are given the power to acqhire, hold, and ’manage personal and real property. The number, nature and duration of the powers conferred upon these corporations‘and the territory over which they shall be exercised rests in the absolute discretion of the State. Neither .their cnarters, nor any law conferring governmental powers, or vesting in'them property to be used for governmental purposes,* or authorizing them to hold 05 manage such property,- or exempting them from taxation upon it, constitutes a con- N ■tract with the State within the meaning of the Federal Constitution. ' The State, therefore, at its pleasure may modify or withdraw all such powers, may take without compensation such property, hold it itself,-or vest it in other agencies, expand or contract the territorial area; unite' the whole or a part