Cobb Superior Court Judge Robert Leonard II on Friday validated bonds that the Cobb-Marietta Coliseum and Exhibit Hall Authority will issue on behalf of county taxpayers to fund the public portion of the new Atlanta Braves stadium.
The judge overruled objections from about a dozen county residents, who sought to block the public financing plan for the new stadium and the issuance of up to $397 million in bonds to fund construction of the facility, which is scheduled to open in 2017 and has a $622 million budget.
Leonard ruled in a 38-page opinion, released at 5 p.m. Friday, that the exhibit hall authority has the legal right to issue the bonds, that the new stadium is a legitimate public expense, and that its agreement with the county government to pay off the debt is also legal. He overruled 12 legal objections to issuance of the bonds.
“…The court determined that the authority and the county presented sufficient evidence and the record establishes that these proceedings were lawful and the requisite statutory procedures were followed,” the ruling says.