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HAUGLAND v. CITY OF BISMARCK

Civ. No. 880158.

429 N.W.2d 449 (1988)

Erling HAUGLAND, Danniel W. Stuart, LeRoy Klaus, John Homelvig and Leo G. Heinz, Plaintiffs, Appellants and Cross-Appellees, v. CITY OF BISMARCK, Defendant, Appellee and Cross-Appellant, Dougherty, Dawkins, Strand & Yost, Inc., and J. Daniel Halvorson, Intervenors, Appellees and Cross-Appellees.

Supreme Court of North Dakota.

September 20, 1988.

Attorney(s) appearing for the Case

Evans & Moench, Ltd., Bismarck, for plaintiffs, appellants and cross-appellees, argued by Dale W. Moench, Bismarck.

Beauclair & Cook, Bismarck, for defendant, appellee and cross-appellant, argued by James L. Norris, Bismarck.

Bucklin Trial Lawyers, P.C., Bismarck, for intervenors, appellees and cross-appellees, argued by David L. Graven. Appearances by Calvin N. Rolfson and John R. Green, Bismarck.

MESCHKE, Justice.

Taxpayers ask us to upset a three-step sale-leaseback-purchase financing arrangement by the City of Bismarck to fund $17,000,000 in capital improvements, using a "nonappropriation mechanism" to avoid obligating the general taxing powers of the City. The trial court approved the arrangement. We affirm.

After exploring several alternatives, the City of Bismarck selected investment underwriters, Dougherty, Dawkins, Strand & Yost, Inc. (Dougherty...

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