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SCHOOL DIST. NO. 1, ETC. v. TCHRS' RET., ETC.

570 P.2d 415 (1977)

31 Or.App. 335

SCHOOL DISTRICT NO. 1, Multnomah County, Oregon, a Quasi-Municipal Corporation of the State of Oregon, and Paul H. Howe, Frank P. McNamara, Gladys McCoy, Jonathan U. Newman, Robert L. Ridgley, Beverly Anne York, and Phyllis R. Wiener, As the District School Board of School District No. 1, Multnomah County, Oregon, Respondents-Cross-Appellants-Petitioners, v. THE TEACHERS' RETIREMENT FUND ASSOCIATION OF SCHOOL DISTRICT NO. ONE, Multnomah County, Oregon, a Nonprofit Corporation, Mabel E. Bearden, Lucille M. Brunskill, Paul E. Fiess, M. Joyce Holse, Leslie W. Lee, Jr., Robert H. Reyburn and Ralph A. Wampler, Individually, and As the Board of Trustees of the Teachers' Retirement Fund Association of School District No. One, Multnomah County, Oregon, and As the Representatives of All Its Present and Former Members Having Any Right, Title, Lien, Claim or Interest in or to Its Assets, Appellants-Cross-Respondents, and The Public Employes' Retirement Board, a Quasi-Corporation of the State of Oregon, and Joseph J. Adams, Edwin H. Armstrong, Robert W. Gormsen, Chalmers L. Jones and Roger S. Meier As the Public Employes' Retirement Board, Respondents.

Court of Appeals of Oregon, In Banc.

Decided October 24, 1977.

Attorney(s) appearing for the Case

Mark C. McClanahan, Donald A. Burns and Miller, Anderson, Nash, Yerke & Wiener, Portland, for petition.

No appearance contra.

On Petitioner's Petition For Reconsideration September 21, 1977.

JOHNSON, Judge.

Petitioner seeks reconsideration of our decision in School Dist. No. 1 v. Teachers' Retirement, 30 Or.App. 747, 567 P.2d 1080 (1977). The petitioner raises two points which warrant discussion.

I. In our opinion we stated:

"TRFA [Teachers' Retirement...

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