Cottrell v. Atlanta Dev. Authority

The issue this appeal presented for the Supreme Court's review centered on a superior court's validation of roughly $200 million in municipal bonds (the "2014 NSP Bonds") that were to be issued by the Atlanta Development Authority d/b/a Invest Atlanta ("Invest Atlanta"). Invest Atlanta and the Geo. L. Smith II Georgia World Congress Center Authority (collectively, the "New Stadium Entities") proposed to have the 2014 NSP Bonds issued for the purpose of funding a portion of the cost of developing, constructing, and operating a new stadium facility in downtown Atlanta for the Atlanta Falcons professional football team. Additional funding for the NSP would have been provided by the Atlanta Falcons Stadium Company, LLC ("StadCo"), a company associated with the Atlanta Falcons Football Club, LLC, as well as through the sale of personal seat licenses. On February 4, 2014, the State filed a Petition for Bond Validation in the superior court to authorize the issuance of the 2014 NSP Bonds. Several individuals moved to intervene in the proceedings to file objections to the bond validation, and the trial court allowed them to do so. Among other things, the intervenors contended that OCGA 48-13-51 (a) (5) (B) was an unconstitutional special law. The trial court ultimately entered a Validation Order and Final Judgment validating the 2014 NSP Bonds and overruling all objections. One of the intervenors appealed that ruling. However, finding no reversible error in the trial court's judgment, the Supreme Court affirmed. View "Cottrell v. Atlanta Dev. Authority" on Justia Law