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COUNTY OF GILES v. FIRST U.S. CORPORATION

445 S.W.2d 157 (1969)

The COUNTY OF GILES, and Jack's Cookie Corporation, a Corporation organized under the laws of Ohio, domesticated and doing business in Giles County, Tennessee, Appellants, v. FIRST U.S. CORPORATION, a Tennessee Corporation, with an office in Shelby County; Bill F. Sutton, a resident of Shelby County; George Lenox, a resident of Shelby County; and Frank L. Milligan, a resident of Jefferson County, Appellees.

Supreme Court of Tennessee.

August 1, 1969.

Attorney(s) appearing for the Case

D.C. Lee, Pulaski, for Giles County, James O. Moore, Charlotte, N.C., of counsel.

Moore & Van Allen, Charlotte, N.C., for Jack's Cookie Corp.

C. Thomas Cates, Memphis, of counsel, Burch, Porter & Johnson, Memphis, for First U.S. Corp., George Lenox and Frank L. Milligan.

Edward G. Grogan, Memphis, of counsel, Heiskell, Donelson, Adams, Williams & Wall, Memphis, for Bill F. Sutton.

OPINION

DYER, Justice.

This cause comes to this Court from the action of the chancellor in sustaining one ground of the demurrer filed by appellees.

The issues of this case arise out of the issuance and sale of industrial bonds by Giles County, Tennessee. These bonds were issued pursuant to two statutes; that is, Chapter 137, Public Acts of 1951, now, as amended, carried as T.C.A. § 6-1701 et seq., and Chapter 209, Public Acts of 1955, now,...

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