John R. Grubb, Inc. v. Iowa Housing Finance Authority

REYNOLDSON, Justice.

Plaintiffs brought an equity action for declaratory decree holding the Iowa Housing Finance Authority Act (Ch. 220, The Code, 1977) to be in violation of the Iowa Constitution. They now appeal from trial court’s decree finding the enactment to be constitutional. We affirm.

The essential facts are not disputed. Plaintiffs John R. Grubb, Inc., Clarke Interests, Inc., and Darwin T. Lynner, Inc., Iowa corporations having their principal places of business in Polk County, Iowa, are all engaged in the business of owning, leasing, investing in, and constructing housing for Iowa…