The city of San Diego is "planning to rework" the $458M financing deal for the Padres' downtown ballpark, Petco Park, according to Jonathan Heller of the SAN DIEGO UNION-TRIBUNE, who notes the move could save the city $3M a year. City officials want to refinance $169M in tax-free municipal bonds issued privately in February '02 at an "unusually high interest rate, which reflected Wall Street's uncertainty that the lawsuit-prone project would be completed. Now that the city has prevailed in all the litigation, the new bond issue would carry a much lower interest rate." If approved, the new bonds would "slash the city's annual debt payment on the ballpark" from $15M to about $12.1M. The City Council will consider the refinancing deal at a public hearing Monday. If approved, the new bonds could be sold by October. The ballpark is about 75% complete and on schedule to open next April. Meanwhile, San Diego Mayor Dick Murphy yesterday "speculated the city might have to reimburse the Padres" about $3.5M the club spent in '99 to buy land around the ballpark for commercial development. The city "wants some of that land restored to its original purpose: a grassy park just outside the