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WORTH COUNTY INDUS. &c. v. LEHIGH VALLEY INDUS.

73820.

183 Ga. App. 634 (1987)

359 S.E.2d 707

WORTH COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY et al. v. LEHIGH VALLEY INDUSTRIES, INC.

Court of Appeals of Georgia.

Rehearing Denied July 13, 1987.

Attorney(s) appearing for the Case

Timothy K. Adams, Hubert C. Lovein, Jr., Clarence A. Miller, for appellants.

Jerome L. Kaplan, Ronald C. Thomason, James J. Fason III, for appellee.

POPE, Judge.

In 1967 defendant Lehigh Valley Industries, Inc. built a textile plant in Worth County. Construction of the plant was financed through the sale of industrial revenue bonds by the Worth County Industrial Development Authority (the Authority). In consideration for the financing arrangement, title to the plant was vested in the Authority which then leased the plant back to Lehigh. Lehigh is a diversified corporation which maintains several operating divisions...

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