"The Navajo Nation plans to issue its first bonds to raise funds for local infrastructure projects. Unlike their state and municipal government counterparts, tribes typically face more challenges borrowing money.

This move may pave the way for other tribes looking for economic stimulus.

The $120 million sale would be the biggest by a tribal government that isn’t backed by gaming revenue. Instead, the Navajo Nation would use revenue from oil, gas and coal royalties to build shopping centers, restaurants, office parks and industrial complexes. The Navajo Nation has more than $1 billion in reserves."

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Navajo Nation Issues First Bonds (Fronteras 11/2)

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Navajo Nation to offer $120M in bonds to finance projects (11/1)