Sampson v. City of Cedar Falls

UHLENHOPP, Justice.

This appeal involves a number of challenges to a plan by a city and others to enter into a joint project for generating electricity.

The City of Cedar Falls, Iowa, owns and operates a large electric generating plant and distribution system which it built and improved by issuing revenue bonds. In excess of $12,200,000 of such bonds are outstanding, secured by first lien on the net revenues of the electric utility.

Plaintiffs are voters and taxpayers in Cedar Falls and customers of the electric utility. One of them is also a bondholder.

The case involves three principal…