Holly v. City of Elizabethton

Acting under the authority supposed to be given by Chapter 137 of the Public Acts of 1951, the defendant municipality of Elizabethton authorized the issuance of $4,000,000 of “Industrial Building Revenue Bonds” for the purchase of a site and the erection thereon of an “industrial building” for lease to defendant corporation, Textron, Inc., to be used by Textron, Inc., for manufacturing, industrial and commercial purposes.

Complainant, by this suit instituted in accordance with the requirements of the Declaratory Judgment Law, Code, Section 8835 et seq., asserted and insisted that this statute…