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Article: CAUTION ON BONDS COULD SLOW STADIUM COUNTY COUNCIL MEMBERS WANT TIME TO STUDY FINANCES AND RISK.(News)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- October 17, 1996
- Author:
CopyrightCOPYRIGHT 1996 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The fast-track schedule for the Mariners' new stadium could get derailed by Metropolitan King County Council members demanding more time to decide whether it's safe to sell bonds.
``I believe it is imperative that we give ourselves the time to do it right,'' said Councilwoman Maggie Fimia, who wants a two-month review of ballpark finances.
Fimia and co-sponsor Ron Sims argued during a two-hour hearing yesterday that council members need details of ballpark expenses and revenue before they can be sure they're not risking the county treasury.
Adding up all the principal and interest to be repaid over the bonds' 20-year life, taxpayers would be ...