Lawrence S. Morrison, Plaintiff v. Ardmore Industrial Development Corporation, a Corporation, Defendants

Summary

The court assumed original jurisdiction and denied the taxpayer's request to enjoin an industrial development authority from executing financing and lease documents and issuing bonds. It held that the trust amendments were valid, that the beneficiary city's limited role did not merge the trust estates or trigger the Local Industrial Development Act, and that the proposed financing plan could be carried out if properly completed and authorized. No separate opinions were filed.