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INVESTORS SYNDICATE v. CITY OF INDIAN ROCKS BEACH, FLA.

No. 29348.

434 F.2d 871 (1970)

INVESTORS SYNDICATE OF AMERICA, INC., Plaintiff-Appellant, v. The CITY OF INDIAN ROCKS BEACH, FLORIDA, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

November 12, 1970.

Attorney(s) appearing for the Case

Peter J. Winders, Tampa, Fla., for plaintiff-appellant.

Owen S. Allbritton, III, Charles F. Barber, Clearwater, Fla., R. Clark Robinson, St. Petersburg, Fla., for defendants-appellees.

Before BELL, THORNBERRY and CLARK, Circuit Judges.

CLARK, Circuit Judge:

Investors Syndicate of America, Inc. (Investors), the holder of municipal revenue bonds, sought declaratory and injunctive relief against the issuing city and the bank having depositary custody of accumulated sinking fund monies, to secure the pre-maturity redemption or purchase of a portion of said revenue bonds. On the bare bones of the complaint and the motion of the city, the trial court dismissed the entire complaint for failure to state...

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