FOSHEIM, Chief Justice.
On September 1, 1971, the city of Custer (City) issued industrial revenue bonds, pursuant to SDCL ch. 9-54, for the purchase of property and construction of a nursing home. On the same date the City entered into a written lease and purchase option agreement with Home Corporation as the lessee of the nursing home property. Also on that date, Home Corporation sublet the property to CM Corporation (appellant). The lease and sublease were part...
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