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RIDGEWOOD DEVELOPMENT CO. v. STATE

No. 50732.

294 N.W.2d 288 (1980)

RIDGEWOOD DEVELOPMENT COMPANY, Respondent, v. STATE of Minnesota et al., Appellants.

Supreme Court of Minnesota.

May 30, 1980.

Attorney(s) appearing for the Case

Warren Spannaus, Atty. Gen., Gregory P. Huwe, Sp. Asst. Atty. Gen., St. Paul, for appellants.

Meagher, Geer, Markham, Anderson, Adamson, Flaskamp & Brennan, Minneapolis, for respondent.

Heard, considered and decided by the court en banc.

SHERAN, Chief Justice.

At issue in this case is the effect of the 1979 amendment of Minn.Stat. ch. 474 (1978) on the ability of Ridgewood Development Company to finance its development of an 180-acre tract of land in Burnsville, Minnesota for single and multiple family dwellings with approximately $30 million of municipal industrial development revenue bonds. The State of Minnesota, its Commissioner of Securities and its Commissioner of the Department of Revenue appeal...

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