Hard Rock involved in casino site
Tribe seeks to issue $440 million in bonds to finance Yuba County hotel and gaming complex
The Enterprise Development Authority, an agency of the Estom
WASHINGTON – In a victory for privacy in the digital era, the Supreme Court ruled Friday that the Constitution protects tracking data from a cellphone, requiring police to have a search warrant to obtain cell tower records that can show a person’s movement over days or weeks.
The justices, by a 5-4 vote, said the Fourth Amendment protects the tracking data, even though these records are collected and held by a private company, not by the individual who is the target of the search. Yumeka Maidu Tribe of the Enterprise Rancheria, has plans to issue $440 million in collateralbacked bonds to finance the construction of a Hard Rock Hotel & Casino in Yuba County.
The plans were revealed in a recent credit rating released by S&P Global that stated the authority was in partnership with Hard Rock International.
The report stated that the Enterprise Development Authority plans on using the senior secured notes, along with $12 million in new subordinated loans, to fund the development and construction of a Hard Rock Hotel & Casino, establish a funded interest reserve, fund pre-opening operating costs and cage cash, and fund transaction fees and expenses.
S&P Global gave Enterprise Development Authority a “B –” issuer and issue-level credit rating.
“The positive outlook reflects