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IRVING INDEP. SCHOOL DIST. v. PACKARD PROPERTIES

Civ. A. No. CA3-88-1611-D.

741 F.Supp. 120 (1990)

IRVING INDEPENDENT SCHOOL DISTRICT and the County of Dallas, Texas, Plaintiffs, v. PACKARD PROPERTIES, LTD., et al., Defendants.

United States District Court, N.D. Texas, Dallas Division.

July 18, 1990.

Attorney(s) appearing for the Case

James W. Deatherage of Power, Deatherage & Blankenship, Irving, Tex., for plaintiff Irving Independent School Dist.

DeMetris Sampson and Sydna H. Gordon of Dallas, Tex., for plaintiff the County of Dallas, Tex.

Forrest Smith, Mark Simon, and Iwana Rademaekers of Arter & Hadden, Dallas, Tex., for the FDIC.

FITZWATER, District Judge:

In this civil action the court decides that the Federal Deposit Insurance Corporation ("FDIC") cannot be held liable for Texas state law penalty and interest obligations arising from nonpayment of ad valorem taxes.

I

Plaintiff Irving Independent School District ("Irving") initiated this action in Texas state court against defendants Packard Properties, Ltd., Montfort Savings, and

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