Stanley v. Fitzgerald

ANDREASEN, Justice.

David M. Stanley and other members of a group known as Iowans For Tax Relief (collectively “Stanley”) appeal 1 from a district court ruling dismissing their request for declaratory and injunctive relief. Stanley brought suit against Michael L. Fitzgerald, the State Treasurer, challenging the issuance of tax and revenue anticipation notes (TRANs). Stanley argued the manner in which the proceeds of the TRANs were used created debt in violation of article VII, section 2 of the Iowa Constitution. He also argued the State should be required to use Generally Accepted Accounting…