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N.M. county agrees to loan up to $75M to tribe


A New Mexico tribe with $88 million in debt has secured a loan from Sandoval County.

Santa Ana Pueblo is trying to refinance debt on its hotel resort and golf courses. The tribe first sought help from the state but lawmaker rejected a proposed deal.

Sandoval County stepped in, agreeing to sell bonds that will fund the loan. The loan amount could be as high as $75 million but may be closer to $60, a county lawyer said.

Get the Story:
Sandoval OKs Loan to Pueblo (The Albuquerque Journal 2/3)

Related Stories:
N.M. tribe not worried about paying off $88M debt (08/14)
N.M. tribe seeks $62M state loan to pay off debts (07/29)
N.M. tribe sanctions leaders for financial misdeeds (06/05)
Pueblo makes massive casino lay offs (10/18)
Pueblo blamed for failed deal (04/08)
Pueblo sues former lawmaker over deal (03/04)