Harold E. STEELE, Don Peterson, Rev. David Maynard, Harmon Wray, and Rev. Tom Baker, Jr., Individually, as Municipal Tax Payers and As Members of Americans For Religious Liberty, Plaintiffs-Respondents,
v.
The INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY; The Metropolitan Government of Nashville and Davidson County; David Lipscomb University; Sovran Bank, A National Banking Association; and Sovran Bank/Tennessee, A Tennessee Banking Corporation, Defendants-Petitioners.
Supreme Court of Tennessee, at Nashville.https://leagle.com/images/logo.png
August 25, 1997.
August 25, 1997.
Attorney(s) appearing for the Case
Bradley A. MacLean, Stephen H. Price, Farris, Warfield & Kanaday, Nashville, for Defendant/Petitioner David Lipscomb University.
Robert J. Warner, Jr., Boult, Cummings, Conners & Berry, Nashville, for Defendant/Sovran Bank & Sovran Bank/Tennessee.
Bobby D. Davis, McKinney & Davis, Madison, for Industrial Development Board of Nashville and Davidson County.
James L. Charles, James L. Murphy, III, Paul D. Krivacka, Nashville, for Metropolitan Government of Nashville and Davidson County.
Joseph H. Johnston, Nashville, for Plaintiffs-Respondents.
Charles W. Burson, Attorney General and Reporter, Michael W. Catalano, Associate Solicitor General, Nashville, for Amicus Curiae State of Tennessee.
George E. Barrett, Phillip A. Purcell, Barrett, Johnston & Parsley, Nashville, for Amicus Curiae Tennessee Municipal League and Tennessee County Services Association.
Supreme Court of Tennessee, at Nashville.
OPINION
REID, Judge.
Pursuant to Rule 23, Rules of the Tennessee Supreme Court, the Court has accepted the following question of law certified by the United States District Court for the Middle District of Tennessee:
Whether bonds which contain a "liquidity demand" provision, giving bondholders the right to collect the face value of the bonds upon giving seven (7) days notice, are bonds "maturing in six (6) months or less
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