Tampa sued to collect on 147-year-old promissory note worth millions

[thelakelander]

Tampa issued a promissory note for $299.58 to pioneer storekeeper Thomas Pugh Kennedy on June 21, 1861. And his great granddaughter Joan Kennedy Biddle, 77, who has known about the note since she was a little girl, wants to collect with interest.  Joan Kennedy Biddle, now claims with 8% interest included, the City of Tampa owes her $22.7 million.

"Obviously we came at a bad time because the city seems like they're trying to cut their budget," she said. "On the other hand, they're building the Riverwalk."

full article: http://www.tampabay.com/news/localgovernment/article419897.ece

[Jason]

Holly cow!  Where can I get one of those notes!

[Lunican]

That's interesting. She will be lucky if she gets the original $300 back though.

[Traveller]

The note itself is probably worth more as a historic document than as evidence of indebtedness.  See what the local history museum will pay for it.

[RiversideGator]

I am almost positive the debt is no longer valid because she and the previous owners of the instrument took WAY too long to attempt to collect it.  So, I am pretty sure the statute of limitations has run.  She should donate it to the museum of Tampa history and claim a $22.7 million charitable write off on her 2008 taxes.   

[Jason]

^ Not a bad idea Gator.