Mike McGinn (former Mayor)
SUBJECT: Mayor McGinn's statement on ruling by Judge Middaugh
4/12/2013 11:00:00 AM
Mayor McGinn's statement on ruling by Judge Middaugh
"We agree with Judge Middaugh's ruling that the 1-91 lawsuit brought against the City and the County is not ripe. The City and County are in the middle of following the decision-making path laid out by the MOU, and not until the end of that path will the Councils decide whether to go forward with public financing for the proposal. If the Councils do choose to go forward to issue bonds, we are confident that the proposed financial structure will result in a final deal for the Arena that provides a fair market return that is more than sufficient to meet the intent of 1-91."
- 30 -