HEALTH & EDUCATIONAL FACILITIES BD. v. KING


678 S.W.2d 14 (1984)

The HEALTH AND EDUCATIONAL FACILITIES BOARD OF the COUNTY OF SHELBY, Tennessee, Plaintiff-Appellee, v. John K. KING, Commissioner of Revenue, State of Tennessee, Gentry Crowell, Secretary of State, Defendants-Appellants.

Supreme Court of Tennessee, at Nashville.

Rehearing Denied October 22, 1984.


Attorney(s) appearing for the Case

William M. Leech, Jr., Atty. Gen., Joe C. Peel, Asst. Atty. Gen., Nashville, for defendants-appellants.

Lee J. Chase, III, Oscar C. Carr, III, Glankler, Brown, Gilliland, Chase, Robinson & Raines, Memphis, for plaintiff-appellee.


OPINION

FONES, Justice.

The Commissioner of Revenue appeals from the judgment of the trial court awarding plaintiff taxpayer recovery of $40,493.00 transfer tax paid under protest to record instruments of indebtedness. The documents were all executed and recorded as part of a single transaction wherein revenue bonds were issued to refinance St. Joseph Hospital East in the principal sum of $40,495,000.

The issue is whether the instruments recorded...

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