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SCH. DIST. NO. 1 v. TEACHERS' RET. FUND ASS'N

567 P.2d 1080 (1977)

30 Or.App. 747

SCHOOL DISTRICT NO. 1, Multnomah County, Oregon, a Quasi-Municipal Corporation of the State of Oregon, and Paul H. Howe, Frank P. McNamara, Gladys McCoy, Jonathan U. Newman, Robert L. Ridgley, Beverly Anne York, and Phyllis R. Wiener, As the District School Board of School District No. 1, Multnomah County, Oregon, Respondents-Cross-Appellants, v. THE TEACHERS' RETIREMENT FUND ASSOCIATION OF SCHOOL DISTRICT NO. ONE, Multnomah County, Oregon, a Nonprofit Corporation; Mabel E. Bearden, Lucile M. Brunskill, Paul E. Fiess, M. Joyce Hulse, Leslie W. Lee, Jr., Robert H. Reyburn and Ralph A. Wampler, Individually, and As the Board of Trustees of the Teachers' Retirement Fund Association of School District No. One, Multnomah County, Oregon, and As the Representatives of All Its Present and Former Members Having Any Right, Title, Lien, Claim or Interest in or to Its Assets, Appellants-Cross-Respondents, and The Public Employes' Retirement Board, a Quasi-Corporation of the State of Oregon, and Joseph J. Adams, Edwin H. Armstrong, Robert W. Gormsen, Chalmers L. Jones and Roger S. Meier As the Public Employes' Retirement Board, Respondents.

Court of Appeals of Oregon.

Decided August 22, 1977.

Reconsideration Denied October 24, 1977.

Attorney(s) appearing for the Case

George K. Meier, III, Portland, argued the cause for appellants-cross-respondents. With him on the briefs were Gerard K. Drummond, J. Roger Hamilton, and Rives, Bonyhadi & Drummond, Portland.

Mark C. McClanahan, Portland, argued the cause for respondents-cross-appellants. With him on the brief were Donald A. Burns and Miller, Anderson, Nash, Yerke & Wiener, Portland.

No appearance for respondent The Public Employes' Retirement Bd.

Before THORNTON, P.J., and LEE and JOHNSON, JJ.

Reconsideration Denied October 24, 1977. See 570 P.2d 415.

JOHNSON, Judge.

This is an appeal from a declaratory judgment adjudicating certain disputes between the parties concerning a prospective plan of merger for the Teachers' Retirement Fund Association (TRFA) and the Public Employes' Retirement System (PERS). We reverse and remand for the reasons that follow.

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