THE NAVAJO COUNCIL’S NAA’BIKI’YATI’ COMMITTEE CONTINUES DEBATING ON PROPOSED $220 MILLION LOAN/BOND

DELEGATE LORENZO BATES offers second amendment which is to Section 8:
go down section 8 and startes with language “without limitations” and insert after language “available assets” not include assets held by federal government, legally prohibited, including PTF, Reserves, Restrictred fedral and grant money, real property, any assests ID in writing by tribe and accepted by bond purchasers.

DELEGATE LEONARD TSOSIE
section 9 has different “available assets” language. We are making serious changes on the fly and tells me what advisors have drafted and they really didn’t think of these things and that’s not good.

This is the first time we’re doing this. you shud have come with complete legislation, charts, examples. now making serious changes and bothering me. Modified Section 8 language better and assume covers fee lands in Eastern Agency.

Maybe the better thing to do is have more complete legislation as go forward. Probably bond counsel charging $400 an hour and flying back and forth to DC and actually attorney shouldn’t charge us. But modified language getting better.

DELEGATE LORENZO CURLEY
When look at language, can’t find anything in SEction 9 that differs from Section 8 is full faith and credit language which is legal term.

VOTE ON DELEGATE BATES’ SECOND AMENDMENT WHICH WAS TO SECTION 8. TIME IS 5:45 PM
11 in favor, 1 opposed. The sole opposing delegate is Delegate Leonard Tsosie