((HT: Arizona Republic, Sanders))
That's a possibility since the City of Glendale thinks its deal with Matthew Hulsizer has advanced from the stage of floating over US$116-million in bonds to, about, half that in a reworked version of the deal...
Tuesday would be the earliest time for a new version of the vote and an approval of the shaky-at-best financing.
There are two roadblocks if the proposal heads to a Tuesday reconsideration...
1) The Goldwater Institute, in all likelihood, would still pursue a lawsuit against the City of Glendale if there's any kind of bond financing and,
2) Moody's, the outfit that gives bond ratings, withdrew their rating. The bonds would have to go back on the market for the company to give any kind of designation.
None of the current bonds have sold...
The agenda for Tuesday should be disclosed some time Friday in Glendale...
More when we know more...
No comments:
Post a Comment