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HOLLSTEIN v. FIRST NAT. BANK OF AURORA

No. 88-737.

437 N.W.2d 512 (1989)

231 Neb. 711

Edmund W. HOLLSTEIN and other individuals similarly situated, Appellants, v. FIRST NATIONAL BANK OF AURORA, Appellee.

Supreme Court of Nebraska.

March 31, 1989.

Attorney(s) appearing for the Case

Gary J. Nedved, of Bruckner, O'Gara, Keating, Sievers & Hendry, P.C., Lincoln, for appellants in the U.S. Court of Appeals.

William R. Hadley, of Hauptman, O'Brien, Wolf & Hadley, P.C., Omaha, for appellee in the U.S. Court of Appeals.

Richard J. Pedersen and Carol C. Knoepfler, of Baird, Holm, McEachen, Pedersen, Hamann & Strasheim, Omaha, for amicus curiae Nebraska Securities Industry Ass'n.

Kenneth C. Stephan, of Knudsen, Berkheimer, Richardson & Endacott, Lincoln, for amicus curiae Dain Bosworth, Inc.

HASTINGS, C.J., and BOSLAUGH, WHITE, CAPORALE, SHANAHAN, GRANT, and FAHRNBRUCH, JJ.

PER CURIAM.

This matter is submitted to us, pursuant to Neb.Rev.Stat. § 24-219 (Reissue 1985), as a certified question of law from the U.S. Court of Appeals for the Eighth Circuit. Specifically, the question is:

Whether the Nebraska statutes governing sanitary and improvement districts, Neb.Rev.Stat. [§§] 31-701 et seq. (Reissue 1984), grant a priority of payment in favor of bonds over warrants so as to require that bonds be fully paid...

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