Federal Judge Charles Sifton dismissed a lawsuit challenging the Mayor's (oh, and City Council's) extension of term limits that paves the way for Mayor Bloomberg to run for a third term. According to the AP, the judge found "the lawsuit's claim that the mayor and current second-term City Council members merely want to maintain their hold on power has no foundation in the record." Plus, CityRoom reports, Sifton "found that under state law, the Council was not required to conduct a referendum before adopting the term limits amendment." So, suck it, voters! Update: The plaintiffs, who include former SI Beep Guy Molinari and City Comptroller Bill Thompson, will decide whether to appeal later this week.