Kell is scheduled to hold the bond hearing at 1:30 p.m. in Cobb Superior Court, said Kevin Moore, attorney for the Cobb-Marietta Coliseum & Exhibit Hall Authority, the agency preparing to issue the bonds for the county.
“Before the governing authority or agency of the government can issue revenue bonds, it must first have a bond hearing for a court to determine it’s lawful and proper,” Moore said. “If the bonds are validated at the hearing then, subject to any appeal rights, those bonds can then be issued.”
In a 4-1 vote on May 27, with Commissioner Lisa Cupid opposed, the Cobb Board of Commissioners authorized borrowing up to $397 million in bond proceeds to finance the $672 million stadium.
Earlier this month, Braves President John Schuerholz predicted the team will have no trouble if any lawsuits arise challenging the stadium. He referenced how a Fulton County Superior Court judge dismissed a lawsuit challenging the bonds
for the new Atlanta Falcons stadium.
“That particular judge called them frivolous lawsuits,” Schuerholz said. “You have to expect these things to take place as a matter of course in projects of this nature and this magnitude and those that have gotten as much attention as this one has. We won’t be surprised if there’s a challenge, and we certainly won’t be surprised if the bond validation is upheld.”
Moore said he didn’t have any comment about anyone who may challenge the bond validation process.
“That’s for the court to determine, and I’ll leave that for the court to determine,” Moore said. “I certainly hope for a desired result, but I do still respect that court and the legal process.”