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NORVELL v. CITY OF DANVILLE

355 S.W.2d 689 (1962)

Iren NORVELL et al., Appellants, v. The CITY OF DANVILLE, Junction City, and Fram Corporation, Appellees.

Court of Appeals of Kentucky.

March 23, 1962.

Attorney(s) appearing for the Case

Donald D. Harkins, James G. Begley, Begley & Harkins, Danville, for appellant

Wesley Gilmer, Jr., Danville, Franklin P. Hays, Skaggs, Hays & Fahey, Louisville, Jackson D. Guerrant, Danville, Richard Jackson, East Providence, R. I., William B. Gess, Lexington, for appellees.

STEWART, Chief Justice.

The council of the City of Danville, a city of the third class situated in Boyle County, proposes by ordinance to issue and sell $500,000 of industrial revenue bonds under KRS 103.200 to 103.285, inclusive. The proceeds derived therefrom will be used to acquire a site and construct thereon an industrial factory building which Fram Corporation has agreed to lease for a period of 20 years for rentals sufficient in amount to amortize the principal...

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