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N. Y. STATE TEACHERS' RET. SYS. v. DEPARTMENT OF H. & U. DEV.

No. 66 Civ. 405.

290 F.Supp. 346 (1968)

NEW YORK STATE TEACHERS' RETIREMENT SYSTEM, Plaintiff, v. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, FEDERAL HOUSING ADMINISTRATION, Defendant.

United States District Court N. D. New York.

September 20, 1968.

Attorney(s) appearing for the Case

Francis H. Trombly, Albany, N. Y., for plaintiff.

Justin J. Mahoney, U. S. Atty., Albany, N. Y., for defendant (James P. Shanahan, Asst. U. S. Atty., of counsel).

OPINION

RYAN, District Judge (by assignment).

In this action, plaintiff seeks a judgment declaring that it is entitled to additional debentures in the amount of $124,104. The question is whether a fund of $124,104 presently held by plaintiff under an agreement with its guarantors was required to be assigned to Federal Housing Administration (FHA) under 12 U.S.C. § 1713(g). If such funds should have been assigned, plaintiff's motion must be denied; if...

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