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URBAN PARK TOWERS APARTMENTS COMPANY v. ALLSTATE INSURANCE COMPANY

44389.

257 Ga. 454 (1987)

359 S.E.2d 897

URBAN PARK TOWERS APARTMENTS COMPANY v. ALLSTATE INSURANCE COMPANY et al.

Supreme Court of Georgia.

Reconsideration Denied October 1, 1987.

Attorney(s) appearing for the Case

Carter & Ansley, A. Terry Sorrells, Christopher N. Shuman, for appellant.

Alston & Bird, Ricky C. Silver, Ronald L. Reid, Hansell & Post, Edward S. Grenwald, Victor Roberts, Lizanne Thomas, Gregory R. Hanthorn, Southard & Balkin, Richard C. Southard, for appellees.

HUNT, Justice.

This case involves the issuance and administration of revenue bonds which were issued to finance a housing project in Lockport, New York. The bonds were issued by Lockport Housing Development Corporation to the project developer, Urban Park Towers, which borrowed the proceeds from the bond issue for the development and construction of the project. After the bonds were issued, Allstate Insurance Company purchased...

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