Cannon v. City of Durham

WYNN, Judge.

In this action, plaintiff seeks to enjoin defendant City of Durham from making any further installment payments to defendant New Durham Corporation on an installment purchase contract. Plaintiff also seeks an order declaring that the installment purchase contract, and a deed of trust executed on the new Durham Athletic Park by the City of Durham to secure financing for the project, are void.

On 21 May 1992, the Durham City Council approved resolution 7719, which, among other things, authorized the negotiation of an installment purchase contract, and the issuance of debt instruments…