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GASNER v. BOARD OF SUP'RS OF COUNTY OF DINWIDDIE, VA.

No. 96-1010.

103 F.3d 351 (1996)

Alan H. GASNER; Signet Trust Company, as Trustee under, Indenture of Trust dated April 15, 1993, with the Industrial Development Authority of Dinwiddie County, Virginia, Plaintiffs-Appellants, v. The BOARD OF SUPERVISORS OF THE COUNTY OF DINWIDDIE, VIRGINIA, in their official capacity; Charles W. Burgess, Jr.; Dewey P. Cashwell; The Industrial Development Authority of Dinwiddie County, Virginia, a political subdivision of the Commonwealth of Virginia; Carter Kaplan and Company, a Virginia Limited Partnership; Carkap, Incorporated, a Virginia Corporation; William P. Carter; Robert R. Kaplan; EMS Engineering, P.C., a New York Professional Corporation; Virginia Bio-Fuel Corporation, a Virginia Corporation; Funnell Industries, Incorporated, a New York Corporation; Barry H. Funnell; Harvey T. Baxter, III; Hirschler, Fleischer, Weinberg, Cox & Allen, P.C., a Virginia Professional Corporation; David F. Belkowitz; Sands, Anderson, Marks & Miller, P.C., a Virginia Professional Corporation; Daniel M. Siegel; The County of Dinwiddie, a Political Subdivision of the Commonwealth of Virginia, Defendants-Appellees, and Frederick C. Maloney; Sharon M. Maloney, Parties in Interest.

United States Court of Appeals, Fourth Circuit.

Decided December 31, 1996.

Attorney(s) appearing for the Case

ARGUED: Stephen Atherton Northup, Mays & Valentine, Richmond, VA, for Appellants. J. Jonathan Schraub, Robins, Kaplan, Miller & Ciresi, Washington, DC; Heman A. Marshall, III, Woods, Rogers & Hazlegrove, P.L.C., Roanoke, VA; Gary Alvin Bryant, Willcox & Savage, P.C., Norfolk, VA, for Appellees. ON BRIEF: Robert L. Brooke, Alan D. Wingfield, Mays & Valentine, Richmond, VA; Murray H. Wright, Jonathan S. Geldzahler, Wright, Robinson, McCammon, Osthimer & Tatum, Richmond, VA, for Appellants. Danny M. Howell, Robins, Kaplan, Miller & Ciresi, Washington, DC; Frank K. Friedman, Woods, Rogers & Hazlegrove, P.L.C., Roanoke, VA; Stephen T. Gannon, L.B. Cann, III, LeClair Ryan, Joynes, Epps & Framme, P.C., Richmond, VA; Daniel A. Gecker, Steven S. Bliss, Maloney, Barr & Huennekens, P.C., Richmond, VA, for Appellees.

Before MURNAGHAN and NIEMEYER, Circuit Judges, and HARVEY, Senior United States District Judge for the District of Maryland, sitting by designation.

Affirmed by published opinion. Senior Judge HARVEY wrote the majority opinion, in which Judge NIEMEYER joined. Judge MURNAGHAN wrote a dissenting opinion.

OPINION

ALEXANDER HARVEY, II, Senior District Judge:

This litigation arose as a result of the financial failure of an anaerobic composting facility (the "Facility") constructed by a private firm for the purpose of processing the solid waste of a Virginia county. Bonds issued to finance the purchase...

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