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Originally Posted by afc wimbledon
Well it wouldn't work with the deal as structured now, but knowing that the GI would almost certainly challange the deal a structure that split the issue into a smaller test issue first or something of that nature.
There is a law and a group that works to uphold it so it is a good idea, if you are the council, to find some way of answering the question of the legality of the bond issue first.
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I don't really get what you're saying. Throw out a $10M bond to wait for a suit?
Goldwater's suit is based on the purchase of parking rights for $100M as well as the management fees, not simply selling bonds. GWI could just wait to file a suit until that transaction takes place.