By any standard, it looks like the Imani entities were allowed too much money. White said the bonds associated with the loan, issued through the city of Midway, were considered a bank-qualified investment meaning that all parties involved in the deal were investment professionals, which Imani was not. The bonds secured the backing of Kentucky state government, which guaranteed tax-exempt returns to Central Bank, White said. The city of Midway was not required to pledge any credit, revenues or assets as security for the $8.5 million in bonds. At a time when we need Central to stand with us, theyre not. Rev. Willis Polk Phil Moloney of Sturgill, Turner, Barker & Moloney, the Midway city attorney, said that its not unusual for non-profit organizations to seek bonding assistance from towns. Although he was city attorney in 2008, Moloney said he did not recall who set up the bond issue, which would have been brought to the city council for consideration. Imani started in 1997 with 210 members who met at House of God International on Georgetown Street. When it moved into the new building, it had about 400 members, and now has between 600-900, Polk said. When Imani opened its new church complex in 2008, Polk said the building was designed for use by businesses and organizations that would pay rental fees.
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Alibi: Is a claim made by the defence counsel that the accused was somewhere else at the time the crime was committed. If the ownership of a property is yet to be ascertained, it is said to be in abeyance. Ex Post Facto: This means 'after the fact'. The following is a legal terminology list, which is a compilation of some common legal terms and meanings that will make your confrontation with laws a lot easier. Pleadings: Written statements of the parties to litigation in which they formally set out the facts and law which support that party's position. The money deposited or the property pledged acts as a guarantee to ensure the appearance of the person released as required by the court. Without adequate documentary evidences your story would just be another 'cock and bull story' for your creditor. It must be noted that the property was once a collateral pledged to a lender who held the 'lien', which is also called the right to ownership of the house.
Impanel: Act of the clerks of the court to select a list of possible jurors for the trial of a particular case. Next Friend: A term used to denote a person, who appears for another in litigation without any official appointment. Such acts are done in violation of international laws, treaties and practices regarding military conflict between countries. It is abuse of process, when civil or criminal legal procedure is initiated against anyone for a malicious reason. Even when it is not a legal or formal authority or right, some rights are recognized as de facto rights.