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BANK OF ALTON v. TANAKA

No. 64,475

247 Kan. 443 (1990)

799 P.2d 1029

BANK OF ALTON, individually and in its capacity of trustee and representative and assignee of the City of Kansas City, Kansas, Appellee, v. TOM T. TANAKA and NANCY TANAKA, d/b/a TANAKA BROTHERS FARMS, Defendants, and CHARLES SULLWOLD and DOROTHY MAE CHARBONEAU, Appellants.

Supreme Court of Kansas.

Opinion filed October 26, 1990.

Attorney(s) appearing for the Case

David W. Carson, of Carson & Fields, of Kansas City, argued the cause, and Blaise R. Plummer, of the same firm, argued the cause and was on the brief for appellants.

R. Michael Steele, of Sherman, Wickens & Lysaught, P.C., of Overland Park, argued the cause, and Steven F. Coronado, of the same firm, was with him on the brief for appellee.

The opinion of the court was delivered by

HERD, J.:

This is another chapter in the continuing drama of Kansas local government efforts to promote industrial development by the use of Industrial Development Bond financing with a ten-year ad valorem tax moratorium on the property involved. This civil action grew out of that effort and was instituted to determine the right of the Bank of Alton, Alton, Illinois, (Bank) as trustee for the City of Kansas City, Kansas...

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