City of Henderson v. Todd

STANLEY, Commissioner.

The City of Henderson adopted an ordinance authorizing the acquisition of an existing industrial plant and the issuance of bonds to finance the purchase. The preamble of the ordinance recites certain factual conditions of abnormal unemployment in the city and that the present owner, the Gibbs Automatic Moulding Corporation, i? handicapped by inadequate working capital and has advised the city that its operations must be curtailed or perhaps closed down and it would thereby add to the number of unemployed persons in the city. It further recites that other industries have…