As I was waiting for Navajo Council special session to start, I did an interview with Controller Mark Grant, Navajo Department of Justice attorney Marcellino Gomez and Orrick partner/bond counsel Douglas Goe. Orrick, according to Orrick website, is a global law firm focusing on energy, technology and financing. Council started so finish this later.
This is the only item on the Navajo Council special session:
Legislation No. 0213-13: Relating to Resources and Development and Budget and Finance; Declaring its Official Intent to Reimburse Itself with the Proceeds of the General Obligation Bonds And/Or the Draw-Down General Obligation Bonds in One or More Series in the Aggregate Total Amount of up to Two Hundred Twenty Million Dollars $220,000,000) to Refund Certain Outstanding Bank Indebtedness and to Finance Economic Development and Infrastructure Projects in Two Components: A) $100 Million in General Obligation Bonds (In the Form of Long-Term Fixed Rate Bonds to be Sold to Institutional Investors) and B) Up to $120 Million in Draw-Down General Obligation Bonds (In the Form of a Bank Loan(s) that can be Drawn on as Needed to Fund Approved Projects) and Subject to Completion of Independent Credit Review and Approval Process Prior to the Funding of Any Economic Development
Sponsors: Honorable Katherine Benally, Honorable Leonard Pete, Honorable Joshua Lavar Butler, Honorable George Apachito, Honorable Walter Phelps, Honorable Mel R. Begay, Honorable Jonathan L. Hale, Honorable Charles Damon II, Honorable Johnny Naize
(M) Duane Tsinigine (S) Danny Simpson