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AULT v. ALASKA STATE MORTGAGE ASSOCIATION

No. 366.

387 P.2d 698 (1963)

John W. AULT, on behalf of himself and all other taxpayers of the State of Alaska, Appellant, v. ALASKA STATE MORTGAGE ASSOCIATION, Albert R. Vacura, Robert Petro, Donald Mellish, M. G. Gebhart, A. H. Romick and State of Alaska, Appellees.

Supreme Court of Alaska.

December 30, 1963.

Attorney(s) appearing for the Case

Joseph Rudd, Ely, Guess & Rudd, Anchorage (on the brief), John M. Conway, Wade & Conway, Anchorage, on reply brief and oral argument, for appellant.

George N. Hayes, Atty. Gen., John H. Brubaker, Asst. Atty. Gen., for appellees.

Before NESBETT, C.J., and DIMOND and AREND, JJ.

NESBETT, Chief Justice.

Appellant taxpayer commenced this suit asking the court to declare unconstitutional certain acts of the legislature which created the Alaska State Mortgage Association.1

The stated purpose of the legislation is to promote the health, safety and welfare of its citizens by creating a corporation to provide additional financing for the secondary housing mortgage market, thereby improving and stimulating the...

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