Quote:
Originally Posted by Resolute 14
Agreed completely, which is why your original statement was stupid.
The city undoubtedly spoke with its lawyers, who undoubtedly gave the opinion that the bond would hold up in court if challenged. But if the lawyers said "you will lose" as you suggest, the city would not have gone forward with that plan.
Whether those lawyers are correct is a matter for a judge to decide, should Goldwater actually bring a suit.
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I tend to think if their lawyers had said it would hold up in court the city would have precipitated GI's action 6 months ago in order to go to court so as to not be in the mess they are in, the city's actions in this case from the begining have been to not release information until the last possible minute, it took a court order to make the papers available and even then they have been obstructive in the extreme to the GI, this is not a good way to sell bonds if they are legal.
That the GI would take an interest in this case was obvious right from the begining, the way the city has acted has guarenteed that the deal is where it is right now, which only makes sense if the city figured that this flawed, oppositional and highly risky process was still the best way to get the deal done.
My guess is the cities lawyers told the city the deal was a pig and the only way they would get through it would be to play chicken with the GI, leave things until the last possible minute so that the GI had to decide whether it wanted to be responsible for killing the team and try and play things out in the press rather than the courts.