IN RE PETITION OF CITY OF MORAN

No. 57,791

238 Kan. 513 (1986)

713 P.2d 451

In the Matter of the Petition of the CITY OF MORAN, KANSAS, the ALLEN COUNTY BANK & TRUST, Iola, Kansas, Trustee, and the IOLA STATE BANK, Iola, Kansas, Paying Agent, Requesting Instructions Regarding Trust.

Supreme Court of Kansas.

Opinion filed January 17, 1986.


Attorney(s) appearing for the Case

Kari S. Schmidt, of Wichita, argued the cause and was on the briefs for appellant, Wichita Bank for Cooperatives.

Frederick G. Apt, Jr., of Apt and Apt, of Iola, appeared for appellant, BROTE.

Robert V. Talkington, of Conderman and Talkington, of Iola, argued the cause and was on the brief for appellee, City of Moran.


The opinion of the court was delivered by

LOCKETT, J.:

This case involves the respective rights of parties to personal property sold by a receiver. The City of Moran filed an action alleging that under a statutory lease-purchase agreement it held a superior interest in the sales proceeds, because the original equipment was purchased with money from industrial revenue bonds issued through the City. K.S.A. 12-1741. The Wichita Bank for Cooperatives claimed a...

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