http://caribbeanrenthouse.com/ael4.html
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In the year 1942(not 2011) (I like the description back then)
...
MR. JUSTICE FRANKFURTER delivered the opinion of the Court.
A New Jersey statute, adopted in 1931, authorized state control over insolvent
municipalities. By a supplementary law,
This one goes back to the 1950's and the Coleman House land. Involves parking
lots, valuable land, what the city thought should be developed, what the
developer thought should be developed, what the taxpayers wanted and what
vaccaro (not hv)wanted...
++
...he successful
...The protection of the public interest from favoritism, fraud or inadequacy
of price must come from good faith, conscientiousness and hard-headedness of
the governing body in the advance negotiations and in continued diligence after
the sale to assure that conditions and restrictions are
...The councilmen are required to display such intelligence and skill as they
are capable of in discharging the duties of their office, and to be diligent
and conscientious, Driscoll v. Burlington-Bristol Bridge Co., 8 N.J. 433
(1952). Since it is obvious to anyone reading the advertisement of
...Moreover, as plaintiff points out, the change in general economic
conditions affecting real estate development of this type might have reduced
the likelihood of the city obtaining as favorable a proposition on resale. Also
the figures in evidence pose the question of the corporation being
