"True, if the operating losses of the Convention Center are greater than Plaintiffs' forecast, then hard business decisions will have to be made. It is also true, as stated in Defendants' brief that a future Board of Commissions may face a Hobson's choice, requiring a hard political decision."

Even Judge Madenspacher recognizes the immense risk associated with this project.

As you might expect, the newspapers have not provided any analysis of what the Judge actually did and its impact on the ability to finance the hotel/cc proposal. To quote again from Judge Madenspacher's decision:

"Finally, enforcement of this Guaranty in no way impairs the this Board's exercise of its policymaking role. This decision will not affect anything other than the December 15, 2003 Guaranty, which is a valid contract."

This proves that Judge Madenspacher completely ignored the LCCCA/PSP/RACL request for a "gag order" to be placed on the County Commissioners, contrary to a statement PSP president Nevin Cooley made in a recent email.

Furthermore, this court order seems to require the LCCCA to honor the terms of the original County ordinance, which were not included in the later bond indenture:

"In reviewing the documents the Court looks to the entire context of all of the documents and the surrounding circumstances. Thus, where the ordinance requires that the authority shall have certified to the trustee that it has sufficient funds to complete the construction of the Facilities in full accord with the final plans and specifications, and the indenture requires that the authority deliver to the trustee, complete plans and specifications and a project budget, then both documents have the requirement that the trustee have the assurance that the entire project will be completed."

Judge Madenspacher's decision may very well have cost the LCCCA far more than it gained, since now they must legally prove to the County that they can afford to build and pay for the proposed convention center before construction bonds can legally be issued. That is, unless the LCCCA plans to appeal Judge Madenspachers' decision.