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MEADOWS OF WEST MEMPHIS v. CITY OF WEST MEMPHIS

No. 86-1066.

800 F.2d 212 (1986)

The MEADOWS OF WEST MEMPHIS, An Arkansas Limited Partnership; Robert E. McCarley; and James C. Ranier, III, Appellants, v. CITY OF WEST MEMPHIS, ARKANSAS; Bill Burnett; Roger Sumpter; Clarence Guin; Doug Morris; Roberta Jackson; Pritchard Horton; Joe Brasfield; Randy Dalton; Larry Shelton; and James Cooper, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided September 5, 1986.

Attorney(s) appearing for the Case

Ted Mackall, Jr., West Memphis, Ark., for appellants.

David H. White, North Little Rock, Ark., for appellees.

Before ARNOLD, Circuit Judge, HENLEY, Senior Circuit Judge, and STROM, District Judge.

ARNOLD, Circuit Judge.

The Meadows of West Memphis, a limited partnership, was formed in 1985 for the sole purpose of constructing a complex of apartments in the City of West Memphis, Arkansas. It sought to finance the construction through the issuance of state revenue bonds under the authority of a recent act of the Arkansas General Assembly. Issuance of these bonds was blocked by a resolution of the City Council of West...

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