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SCHMIDT v. TOWN OF ALVIN

No. 87-2430.

145 Wis.2d 806 (1988)

429 N.W.2d 541

Roger SCHMIDT, Plaintiff, v. TOWN OF ALVIN and Robert and Barbara Norman, Defendants-Respondents, EAGLE RIVER STATE BANK, Intervening Defendant-Appellant.

Court of Appeals of Wisconsin.

Decided July 19, 1988.

Attorney(s) appearing for the Case

For intervening defendant-appellant there was a brief and oral argument by D.J. Weis and Johnson, Weis, Paulson & Priebe, S.C., of Rhinelander.

For defendants-respondents there was a brief and oral argument by Fred W. Kawalski and Whiting & Kawalski, of Antigo.

Before Cane, P.J., LaRocque and Myse, JJ.

LaROCQUE, J.

Eagle River State Bank appeals a judgment declaring its loan agreement with a Forest County municipality unenforceable. The promissory note from the Town of Alvin was obtained without compliance with the municipal borrowing provisions of sec. 67.12(12)(e), Stats. The bank argues that the loan was valid under several different theories and, alternatively, that it is entitled to restitution of the loan proceeds. The trial court in voiding the loan ordered...

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