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BARTLETT v. MILLER AND SCHROEDER MUNICIPALS

No. CX-84-466.

355 N.W.2d 435 (1984)

Russell BARTLETT, et al., Appellants, Walter T. Miller, Defendant, v. MILLER AND SCHROEDER MUNICIPALS, INC., et al., Edward C. Lemke, et al., Paul W. Price, Warren J. Peterson and International Organics, Inc., Respondents.

Court of Appeals of Minnesota.

September 18, 1984.

Attorney(s) appearing for the Case

Thomas V. Firth, Minneapolis, for appellants.

W. Michael Drake, Judith A. Rogosheske, Drake & Rogosheske, P.A., Minneapolis, for Miller and Schroeder Municipals.

Paul G. Neimann, Wiese & Cox, Ltd., Minneapolis, for Lemke.

Paul W. Price, Greensboro, N.C., pro se.

Warren J. Peterson, St. Louis, Mo., pro se.

Heard, considered and decided by POPOVICH, C.J., and PARKER and CRIPPEN, JJ.

OPINION

POPOVICH, Chief Judge.

This appeal is from a judgment of dismissal of appellants' action based upon the running of the statute of limitations. Appellants are holders of industrial development revenue bonds issued by the Seaway Port Authority of Duluth (SPAD), under-written by respondent Miller & Schroeder, and used to finance the construction of a malic acid plant. Following the default of the tenant of that facility, the plant was sold below...

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