Kentucky-Tennessee Light & Power Co. v. City of Paris, Tenn.

DENISON, Circuit Judge.

The city of Paris, Tenn. — hereafter called the city — owned and operated electric light and water plants, with the necessary distribution systems, for supplying itself and its citizens. Its governing body decidéd to sell the combined plant for private operation. Byrd, purporting to act in his own interest, but with the declared intention of making a transfer to an operating company, negotiated and closed a contract which gave him a lease, an operating franchise, and a contract to buy. Later, he made such transfer, and, with the consent of the city, the…