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Industrial development board dismissed from lawsuit brought by taxpayers

Just as an industrial development board was going to market for $60 million in bonds to be issued to fund construction of a high school, a small group of citizen taxpayers obtained a temporary injunction to prevent the bond issuance from going forward. After changed market conditions made the proposed bond transaction cost prohibitive, the industrial development board abandoned the proposed transaction. Nonetheless, the taxpayer group persisted with their court challenge.

Waller obtained dismissal of the continued taxpayer challenge of the abandoned bond transaction as moot; and was quoted by the Court of Appeals in its opinion affirming that dismissal.

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Jeff Smith
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