Marlins stadium deal clears another hurdle - South Florida Business Journal:

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Miami-Dade Circuit Court Judge Lawrence A. Schwartxz on Friday denied a motion to stop the county from sellinvthe bonds. Schwartz ruled that whilde a pair Miami residents have standing to bring the lawsuit challenginthe stadium's construction, the county’s effort to sell construction bondd is “not unconstitutional.” The county had moveed the date of the bond sale from this week to June 29 and June 30 as a resulr of their motion. The countyu had worried that the lawsuit would create a cloucd of uncertainty that couls have affectedthe bonds’ interesyt rates.
County spokeswoman Vicki Mallette said Friday that the countuy would now move forward with the sale of the bondsaas planned. County Mayor Carlows Alvarez said early Friday that he was confidentt the county would prevail in the requesgt foran injunction. Early Friday morning Miami-Dade Countyt Commissioners approved three measures designedf to make possible the start of construction on the new Commissioners agreed to move up to the top of the list of creditorsw to bepaid first.
Wachovia is providing a $100 milliob letter of credit to the countyh for its variable rate These types of bonds require a line of Commissioners also voted to move back the termination date to July 15 for eitherthe county, city or the Marlinsd to pull out of the deal and to conveyh property to the city of Miami for stadium garages. Miami-Dade County Commissioner Joe Martineaz voted againstprioritizing Wachovia's payback and changing the terminatiob date.
He opposes the county's financing of the calling it "a bad The ballpark project passed another technical hurdl e at the city of Miami on Miami city commissioners approvede the termination date change as well as other modificationxs that City Manager Pete Hernandezx said would help protect the city inthe * Giving the county until July 17 to terminat e the deal if it has not closed on the bond * Extending the date of the city'a $13 million contribution to July 17. * Amending the deal to alloaw the city to suspend depositg of its contribution to the project if therse is a delay dueto litigation.
* Add a reverte clause that gives the stadium land back to the city if the deal In April, county commissioners approved issuinbg bonds totaling a maximuk of $536 million toward construction of the $640 37,000-seat ballpark.