i think you have an 87 sky runner, and someone put drop bars on it...

http://4.bp.blogspot.com/_whtVpXkKwl...0-h/img131.jpg

hth
-rob

edit: they even sold the frameset separately
http://3.bp.blogspot.com/_whtVpXkKwl...0-h/img143.jpg

There it is; pearly white paint, red decals, aluminum tubing, hideous welds... i think we've found our man, assuming your guy has canti-posts