User Login    
 + Register
News : Judge Rules Moberly Not Liable For 39 Million In Bonds
Posted by Randy on 2014/3/3 4:50:00 (236 reads) News by the same author

COLUMBIA, Mo. (AP) - A federal judge has ruled that the city of Moberly and its industrial development authority are not responsible for bonds involved in a failed artificial sweetener plant project.

Click to see original Image in a new window

Moberly and the agency issued $39 million in bonds in July 2010 to finance construction of a Mamtek plant, which was expected to create 600 jobs. The project never materialized.

U.S. District Judge Nanette Laughrey ruled Monday that city legally issued the bonds. She said the concept that governments can't be sued for legal official acts prevents investment banker Morgan Keegan from arguing that the city was liable for the losses. Morgan Keegan sold the bonds issued by Moberly.

The Columbia Daily Tribune reports Morgan Keegan's attorney, Chuck Hatfield, says his clients haven't decided whether to appeal the ruling.

Printer Friendly Page Send this Story to a Friend Create a PDF from the article


Other articles
2014/11/26 10:12:40 - Amaren Files Application To Raise Charge On Bills
2014/11/26 10:08:15 - NCMC Board Of Trustees Meeting Report
2014/11/26 9:53:35 - Gallatin Residents To See Increase In Water Bills
2014/11/26 9:50:52 - No Green Card For Lauren Gray: Dancer Leaves For London Saturday
2014/11/26 9:45:04 - Trenton Man Sentenced To Five Years In Prison
2014/11/26 9:42:24 - Missouri Taxpayers Sue Nixon For Common Core Tests
2014/11/26 6:49:29 - Trenton City Council Meeting Report
2014/11/26 4:18:15 - Google's Latest: A Spoon That Steadies Tremors
2014/11/26 4:12:02 - The Forgotten First President (Hint: It wasn't George Washington)
2014/11/26 4:05:51 - Neighbors React To Permit For Controversial Hog Farm
2014/11/26 3:59:19 - Police: Teens Steal From Cancer Patient
2014/11/26 3:55:10 - Salvation Army Revisiting Policy After Family Turned Away Due To Age Of Son
2014/11/25 7:36:07 - University City, Mo. Officer Shot In Chest, Woman Dies
2014/11/25 6:24:44 - Cameron Man Injured In Single Vehicle Accident: Accused Of DUI
2014/11/25 6:22:00 - Lighting Contest To Be Held In Mercer County
2014/11/25 6:20:00 - NCMC Softball Signs Platte County Recruit
2014/11/25 4:35:59 - Man Fighting For His Life After Being Run Over At McDonald's Drive-Thru
2014/11/25 4:23:44 - 17-Year Old Suspect Charged With Murdering His Grandmother Pleads Insanity
2014/11/25 4:20:11 - Missouri Lottery Will Advertise In Fortune Cookies
2014/11/25 4:17:38 - 17-Year Old Arrested: Robbed Shop With Airsoft Gun
2014/11/25 4:09:06 - Family Upset Officers Used Deadly Force Against Suicidal Teen
2014/11/25 4:00:00 - Police: Video Of Officer Shooting 12-Year Old Boy Is 'Clear'
2014/11/25 3:59:18 - With No Indictment, Chaos Fills Ferguson Streets
2014/11/24 17:20:58 - Princeton Boys Seeded #2 For Albany Tournament
2014/11/24 16:50:00 - Milan To Open 2014-2015 Basketball Season At Novinger Tournament
2014/11/24 12:00:25 - Trenton Boys Sweep Cameron Jamboree, Prepare For East Buchanan
2014/11/24 11:32:36 - KC Chiefs Add Receiving Depth, Signing Jason Avant
2014/11/24 11:21:24 - Gallatin Girls, Trenton Boys Earn #1 Seeds At Gallatin Tourney
2014/11/24 10:52:24 - Michaelis Notches Career High 17, Mizzou Falls To #14 California
2014/11/24 10:41:08 - Trenton Girls Open Season With Home Jamboree



Bookmark this article at these sites

                   

Listen to KTTN-FM