DALLAS – Plans to mortgage the Glendale, Ariz. city hall in a $30 million debt deal are on hold as the Phoenix suburb continues to negotiate in private with prospective buyers for the local National Hockey League team.

The two deals are related because Glendale’s financial distress stems from its efforts to keep the Phoenix Coyotes playing in the $180 million city owned Jobing.com arena.  The arena was built in 2003 for the Coyotes using sales-tax-backed revenue bonds and additional debt for roads and other infrastructure.

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