Anaheim says residents drop suit challenging series A, B revenue bonds

By Susanna Moon

Chicago, Feb. 11 – The City of Anaheim, Calif., said a resident coalition group dropped its lawsuit on Feb. 6 challenging the validity of two series of its Anaheim public financing authority lease revenue bonds.

The plaintiffs were challenging the validity of the $252,725,000 2014 series A revenue bonds and $6.2 million 2014 series B revenue bonds.

The plaintiffs dismissed their appeal in the case Coalition of Anaheim Taxpayers for Economic Responsibility and Inland Oversight Committee v. City of Anaheim et al., with prejudice, as part of a settlement agreement with the city, according to a city notice.

Under the settlement, the plaintiffs dismissed their appeal and released the city from the bonds, in exchange for the city’s agreement to not seek reimbursement of litigation costs from the plaintiffs in the litigation, the city said.

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