Quote:
Originally Posted by Roughneck
What do you mean "test the law"?
Selling a bond isn't illegal, Glendale could sell $1B in bonds so long as they can justify the cost, its what they're being used for that is up for contention. For this deal to work Hulsizer will need $100M from the city for parking rights. Aside from just going through with the deal, how can they test the law?
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They should go ahead with the deal and stop whinning about a set of utterly predictable factors affecting the price.
There is nothing here that couldn't have been foreseen, we know full well that the deal may be ilegal, will be challeanged and that uncertainty will affect the price of the bonds.