Marlins stadium deal clears another hurdle - San Antonio Business Journal:

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Miami-Dade Circuit Court Judge Lawrence A. Schwart z on Friday denied a motion to stop the countuy from sellingthe bonds. Schwartz ruled that while a pair Miami residente have standing to brinf the lawsuit challengingthe stadium's construction, the county’s efforgt to sell construction bonds is “not unconstitutional.” The counthy had moved the date of the bond sale from this week to June 29 and June 30 as a resulft of their motion.
The county had worriec that the lawsuit would create a cloud of uncertainty that coulfd have affectedthe bonds’ interest County spokeswoman Vicki Mallette said Friday that the countu would now move forward with the sale of the bondxs as planned. County Mayor Carlos Alvarez said early Friday that he was confident the countyg would prevail in the requestg foran injunction. Early Friday morninf Miami-Dade County Commissioners approved three measures designed to make possible the starft of construction on the new Commissioners agreed to move up to the top of the list of creditorse to bepaid first.
Wachovia is providing a $100 milliob letter of credit to the county for its variablesrate bonds. These types of bondws require a line of Commissioners also voted to move back the terminationj date to July 15 for eithetrthe county, city or the Marlins to pull out of the deal and to convety property to the city of Miami for stadium garages. Miami-Dad e County Commissioner Joe Martinez voted againsttprioritizing Wachovia's payback and changint the termination date. He opposes the county'ss financing of the project, calling it "qa bad deal.
" The ballpark project passed anotherf technical hurdle at the city of Miami on Miami city commissioners approved the terminatiohn date change as well as other modificationas that City Manager Pete Hernandez said wouls help protect the city inthe deal. * Givin the county until July 17 to terminate the deal if it has not closec on thebond sale. * Extendinyg the date of the city's $13 million contribution to July 17. * Amending the deal to allowq the city to suspend deposi t of its contribution to the project if therde is a delay dueto litigation.
* Add a revertee clause that gives the stadiumm land back to the city if the deal In April, county commissioners approved issuinf bonds totaling a maximum of $536 million towards construction of the $640 37,000-seat ballpark.