Hessen v. Metropolitan Dade County

This appeal is brought from an order denying the maintenance of a lawsuit as a class action.

On March 1, 1981, Dade County sold $88,000,000 in Guaranteed Entitlement Bonds in denominations of $25,000 each with interest payable each year at the rate of nine percent. The three-year bonds provided that they could be redeemed by the County on any interest payment date not earlier than March 1, 1982.

The appellant, Hessen, who resides in Vero Beach, Florida, purchased four bonds totalling $100,000 through her agent at Bankers Trust in New York.

Pursuant to the redemption provision, Dade County…