THE NAVAJO COUNCIL’S NAA’BIKI’YATI’ COMMITTEE IS STILL DEBATING $220 MILLION BOND/LOAN. IT’S NOW 6:47 PM. NAABI GOT QUORUM ABOUT NOON AND IMMEDIATELY TOOK UP BOND/LOAN LEGISLATION.

We have to know what is going on, including refinancing. But we have to kow what has been finally negotiated. what happened today is that interest rate has not been negotiated and we changing this document on the fly. So important that this returns to us and we see what it look like in its final form. And we as Council are aware of it.

We recently found out about how the various Trust Funds were being used. (During Council’s action on Audit of 2011 tribal government budget, most of Delegates didn’t kow that various Trust Funds, such as Veterans, Scholarship, Senior Citizens, Handicapable, were being used to finance trbial casinos through approval of Navajo Nation Investment Committee.)

DELEGATE WALTER PHELPS
My thots on this is

DELEGATE LORENZO BATES
Not disrespectful, but Delegate Tsosie’s amendment is micromanaging.

When did $60 m. Bond, there were no ground rules and we had to return to Council cuz wat have in front of you and with amendments, we emphasized Navajo courts and laws. This legislation outlines path, ground rules and why no reason to return to Council.
is
Heard possible interest rates 2 to 5 percent and if double digit rate then Council wud hear. If Delegate Tsosie’s amendment approved then it does away with ground rules. And so you might as well vote down Bond/Loan legislation.

I informed you that there are timelines and if we miss timeline cuz it has to come back to us then we have to start all over again. How long did it take us to get a quorum. We’ve been debating for five hours.

SPEAKER NAIZE
It’s getting late and so let’s be careful how we talk to each other, especially saying “on the fly.”

DELEGATE TSOSIE
My amendment is “before final approval”. Negotiations can occur. What’s the big deal about time when something so important. Out there, Navajo pple say, Put on another pot of coffee and debate into night.

We do these things to protect Navajo assets.

SPEAKER NAIZE
Persons identified to negotiate are President, Vice President, Controller.

DELEGATE LORENZO BATES
We did a Bond. If this amendment passes on main motion, I will vote against it.

VOTE AT 7:02 PM ON AMENDMENT 5, DELEGATE TSOSIE’S AMENDMENT TO NOT FULLY AUTHORIZE PRESIDENT, VICE PRESIDENT, CONTROLLER TO NEGOTIATE & APRPOVE BOND/LOAN.
5 in favor, 9 opposed