City of Coral Gables v. State

Chilltngworth, Circuit Judge.

The City of Coral Gables sought to validate approximately $4,200,000.00 refunding bonds and $7,000,000.00 tax participation certificates, which were to be issued in exchange for old evidences of indebtedness in the approximate amount of $11,200,000.00 — including principal and interest — -in full satisfaction, settlement, compromise and adjustment of the original indebtedness. The State Attorney filed an answer raising numerous legal objections. Culley, a taxpayer, intervened to attack the validity of four original bond issues outstanding in the amount of…