White v. Common Council of the Middlesboro

WADDILL, Commissioner.

In this declaratory judgment action the trial court upheld the validity of an ordinance, lease and related instruments of the City of Middlesboro effectuating a plan for the issuance of revenue bonds by a holding company which will acquire off-street parking facilities and a fire truck and lease them to the city. The bonds, in the sum of $500,000, are to be redeemed by a pledge of the city’s parking meter revenue.

There is specific statutory authority for the city to acquire off-street parking (KRS 82.050) and fire apparatus (KRS 85.190). Hence, we need consider only the…