Field of Schemes
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June 11, 2004

Newark sells arena bonds (maybe)

Two days after a New Jersey judge shot down a referendum campaign to block a new Devils arena in Newark, the city's housing authority - that's right, the housing authority - sold $210 million worth of bonds to finance the city's share of the project. (The bonds are to be repaid with lease payments on Newark's marine terminal.) In a last-ditch effort to block the arena, city councilmembers Luis Quintana and Augusto Amador have asked an appellate judge for a temporary restraining order against the bond sale, which is due to be completed on June 24.

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