REDEVELOPMENT AGENCY OF THE CITY OF BURBANK, Plaintiff and Respondent,
v.
WALTER L. GILMORE, JR., et al., Defendants and Appellants.
Supreme Court of California.https://leagle.com/images/logo.png
June 13, 1985.
June 13, 1985.
Attorney(s) appearing for the Case
COUNSEL
Irsfeld, Irsfeld & Younger, O'Neill & Huxtable, Richard L. Huxtable and Francis H. O'Neill for Defendants and Appellants.
John Briscoe, Sandi L. Nichols, Thomas B. Brown, Washburn & Kemp, Fadem, Berger & Norton, Michael M. Berger, Parkinson, Wolf, Lazar & Leo, Richard B. Wolf and Michael W. Connally as Amici Curiae on behalf of Defendants and Appellants.
William B. Rudell, City Attorney, and Richard W. Marston, Senior Assistant City Attorney, for Plaintiff and Respondent.
Robert F. Carlson, Gordon S. Baca, Charles E. Spencer, Jr., Gerald J. Geerlings, County Counsel (Riverside), Peter H. Lyons, Principal Deputy County Counsel, Jay G. Vickers, Deputy County Counsel, Kenneth L. Nelson, County Counsel (Santa Barbara), James B. Lindholm, Jr., County Counsel (San Luis Obispo), Donald S. Greenberg, City Attorney (San Buenaventura), K. Duane Lyders, City Attorney (Oxnard), James F. Rupp, Jr., City Attorney (Port Hueneme), Roger Picquet, City Attorney (San Luis Obispo), Mark G. Sellers, Acting City Attorney (Thousand Oaks), Dankert & Kuetzing, Thomas M. Dankert, Murray O. Kane, R. Bruce Tepper, Jr., Kathryn Reimann and Weiser, Kane, Ballmer & Berkman as Amici Curiae on behalf of Plaintiff and Respondent.
Supreme Court of California.
OPINION
GRODIN, J.
We confront an issue created by the sharp rise in market rates of interest during recent years. (1a) When a public agency condemns property and exercises its statutory right to take possession before the condemnation price is set or fully paid, does the "just compensation" which the Constitution requires include interest at prevailing market rates rather than...
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