Until someone else explains the details to us I'll tell you what I think this means.
There is some legislation being pushed to save the cross, but even with lightning speed by (congressional and senate standards) nothing could have been done by Aug 2, that is when the $5,000.00 A DAY fine kicks in, and the principals had said they couldn't hold on with a fine that size, so the cause appeared doomed, a stay gives us time.
I hope this is at least close to what is going on, losing the cross is so troubling to me, I haven't been following the case closely.
I think that the Ninth Circuit is set to hear the appeal en banc sometime in early October. Thus, this stay provides some breathing room to the City.