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MAYOR, ETC. v. INDUSTRIAL DEV., ETC.

Record No. 800457.

275 S.E.2d 888 (1981)

MAYOR AND MEMBERS OF the CITY COUNCIL OF the CITY OF LEXINGTON v. INDUSTRIAL DEVELOPMENT AUTHORITY OF ROCKBRIDGE COUNTY.

Supreme Court of Virginia.

March 6, 1981.

Attorney(s) appearing for the Case

William O. Roberts, Jr., Lexington, for appellant.

Alfred L. Shilling, Richmond (Bernard J. Natkin, Patrick K. Arey, Bonnie M. France;

Ganas & Natkin, Lexington, McGuire, Woods & Battle, Richmond, on brief), for appellee.

Before HARRISON, COCHRAN, POFF, COMPTON and THOMPSON, JJ.

HARRISON, Justice.

The threshold question here is whether under Virginia's Industrial Development and Revenue Bond Act (Act), Code §§ 15.1-1373 to -91, the Industrial Development Authority of Rockbridge County (Authority) may issue bonds to finance the construction and equipping of a retail sales facility. We must also determine whether the Authority may bring this proceeding to validate such bonds under Virginia's Public Finance Act, Code §§ 15...

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