LOWENSTEIN, Judge.
This case involves the question of who has priority on retained construction proceeds—the surety on a performance bond which advanced the funds to complete the project when the principal, the contractor, ran out of money, or, the state as obligee which was owed a previous debt by the contractor. The facts here are somewhat unusual, making a brief overview in order.
Tri-City Construction Company (Tri-City) and its subsidiaries contracted...
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