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Article: Sandoval County, N.M, Issues Bonds to Loan Indian Casino up to $75 Million.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 3, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Thomas J. Cole, Albuquerque Journal, N.M. Knight Ridder/Tribune Business News
Feb. 3--BERNALILLO, N.M. -- Sandoval County has agreed to loan up to $75 million to an Indian gaming tribe that previously failed in a bid to borrow money from the state.
The County Commission, at a meeting Jan. 22, voted unanimously to authorize sale of the bonds needed to fund the loan to Santa Ana Pueblo, which is seeking to refinance debt on a Hyatt Regency resort and golf courses.
The bonds would be sold to private parties. The tribe is responsible for repayment, pledging profits from its casino, hotel resort and golf courses, as well as some tax ...