Legal Opinion
Aca Fin. Guaranty Corp. v. City of Buena Vista
District Court, W.D. Virginia
Decided February 8, 2018No. Case No. 6:17–cv–00013PublishedCited by 5 opinions
1Opinion of the Court
NORMAN K. MOON, SENIOR JUDGE
This case is about soured financing for a municipal golf course in the City of Buena Vista, Virginia. Through agreements in 2005, the City procured funds to renovate and service debt on the golf course. For initial purposes, one can conceptualize these agreements as creating a mortgage. The City and its recreational authority ("Authority") received cash from a bank. In return, the City pledged, "subject to appropriations," to repay the loan. The golf course property served as security to protect the bank from nonpayment. But the City also pledged unusual…
2Cases cited62 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Bruce Beaudett v. City of Hampton City Attorneys A. Paul Burton and W. Stephen Moore Judge T.H. Wilson, II and Judge Nelson T. OvertonCourt of Appeals for the Fourth Circuit · 1985
- Louise Whitney v. State of New Mexico Charles Patrick, Employee of the State of New Mexico John/jane Doe, Unknown Employees of the State of New MexicoCourt of Appeals for the Tenth Circuit · 1997
- MedImmune, Inc. v. Genentech, Inc.Supreme Court of the United States · 2007
- Beacon Theatres, Inc. v. WestoverSupreme Court of the United States · 1959
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3Cited by5 opinions
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- Wilmington Trust, National Association v. Homes4Families, LLCDistrict Court, D. Maryland · 2019