LEWISTON – The sale of the Androscoggin Bank Colisee moved forward Friday when ice arena company Firland Management set aside a $250,000 mortgage as collateral.

It was the last requirement set by city councilors when they approved the sale Tuesday. City Finance Director Dick Metivier said it’s designed to ensure the arena will be managed properly according to a sales contract for the next 12 months.

“Councilors had wanted a performance bond from the company, but there was not enough time to set one up,” Metivier said. “So we allowed them to set up this mortgage and we will allow them to substitute a performance bond when they have one ready.”

Metivier said he expects the city and Firland to close on the deal Tuesday. According to the deal, Firland will pay the city a total of $1 million. Payments begin in 2013.

The city also agreed to provide up to $3 million in loans to build a second ice surface if Firland can’t get other financing. The deal gives Firland President Jim Cain until April 2009 to assume ownership of the building.

Councilors added the collateral requirement at Tuesday’s meeting.

“This does not guarantee that he’ll exercise the option (to purchase the ice rink),” Metivier said. “It just guarantees that he will continue to operate the facility properly, meeting the ongoing obligations and providing services.”

Meanwhile, a bid to overturn the sale had picked up one additional signature by 2 p.m. Friday. A group of 10 city voters filed a petition Thursday to suspend the pending sale and put the matter before voters.

Sale opponents have until mid-September to convince 989 other registered voters to come to Lewiston City Hall and sign the petition. The Colisee’s sale would go to voters in November 2009 if the petition is successful.

The petition is being governed by old rules that don’t allow petitions to be passed outside City Hall. Voters approved new rules at the polls on June 10, which allow people to pass petitions door to door to challenge council decisions. According to state law, those rules take effect 30 days after the election, on July 10.