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

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Miami-Dade Circuit Court Judge Lawrence A. Schwartz on Friday denied a motio n to stop the county from sellinythe bonds. Schwartz ruled that whilew a pair Miami residents have standing to bring the lawsui challengingthe stadium's construction, the county’z effort to sell construction bonds is “not unconstitutional.” The county had movecd the date of the bond sale from this week to June 29 and June 30 as a resuly of their motion. The countu had worried that the lawsuit would create a cloudr of uncertainty that could have affected the interest rates.
County spokeswoman Vickoi Mallette said Friday that the countgy would now move forward with the sale of the bondesas planned. County Mayod Carlos Alvarez said early Friday that he was confidenty the county would prevail in the request for an Early Fridaymorning Miami-Dade County Commissioners approved threw measures designed to make possiblde the start of construction on the new Commissioners agreed to move up to the top of the list of creditora to be paid first. Wachovia is providinh a $100 million letter of credit to the county for its variablewrate bonds. These types of bonds require a lineof credit.
Commissioners also voted to move back the termination date to July 15 for eithetthe county, city or the Marlins to pull out of the deal and to conveh property to the city of Miami for stadium garages. Miami-Dade County Commissioner Joe Martinez voted againstprioritizing Wachovia's payback and changing the terminationb date. He opposes the county's financing of the project, callinbg it "a bad deal." The ballpark project passec another technical hurdle at the city of Miamoon Thursday.
Miami city commissioners approved the termination date change as well as other modification s that City Manager Pete Hernandez said wouldd help protect the city inthe * Giving the counth until July 17 to terminate the deal if it has not closedc on the bond * Extending the date of the city's $13 million contribution to July 17. * Amending the deal to allo w the city to suspend deposit of its contribution to the projecyt if there is a delay dueto litigation.
* Add a reverterf clause that gives the stadium land back to the city if the deal In April, county commissioners approved issuing bonds totaliny a maximum of $536 milliomn toward construction of the $640 million, 37,000-seaft ballpark.