Navajo Council still debating $4.1 million for Navajo Transitional Energy Company which also includes authorizing NTEC to go to Investment Committee for approval of a $36 million line of credit to buy BHP Billiton coal mine.

DELEGATE DWIGHT WITHERSPOON
Other concept here, coming from community that complains about deals from major energy companies and getting minimal benefits.
Peabody, NGS, Four Corners and even BHP. Currently see percentage royalties and many suggested become owners. Well here it is.
Are there other opportunites before us? No. What is here is Navajo owned Transitional Energy Company that wud maximize revenues and transtion to renewables. I think this is easy decision otherwise lose $82 million in tribal revenues.

DELEGATE JONATHAN hALE
i see both sides. For some easy decision but on other side, certain change and understanding and moving forward and how impact future generations and for us to grow as power house. Depending on entities work with such as NTEC. And also tribal revenues from coal and perhaps revenues are water for seed to grow.

Nevertheless, tribe moves on and I wont’ be sitting here forward. But my vote will influence future.

DELEGATE WALTER PHELPS
i WANT TO TALK about being nation as treaty tribe in US that had privilege to have treaty. there are certain benefits and opportunities but at same time, just fact that have treat and form of government, whether like or not, we have law and order, say wat want about how efficient it is. yet i’m proud to say that I’m Navajo and part of Navajo Nation and that we intend to assert sovereignty and move nation. hopefully intent of council now and future is to strive for complete independence.

Right now I feel we are still dependent nation on US govt resources and expertise outside selves but yet thru time our nation has grown and reached this point in time and nation has continued to grow. closer get to independence better for future. I feel embracing this step is small step to independence to oversee and control resources. And something I want this body to strive for so can go back to constituents that we decided right thing to move tribe to energy independence.

Also at Naabi didn’t fully understand line of credit question. Anytime strengthen credibility of tribe, standing in terms of negotiating before bank and investors – this is what we want to commit; we want to do business. in my area we have $50 million worth of projects.

DELEGATE LORENZO CURLEY
POINT OF ORDER: Look at legislation heading, which is about taking money from Reserves but also “unwittingly” approve $36 million out of line of credit. There is very little being said about how pay back %6 million. Let’s be candid, maybe it’ll be another DPA where kissed away $40 million where tried to own Desert Rock. We tried to own Dine Power Authority and we blew $40 m. I consider legislation out of order. $6 m is being asked for and in past we recognized as out of order.

BOBROFF
First word on line 17 is “if”. That needs to be emphasized is that this legislation not approve $36 m but criteria/rules if Investment Committee approves line of credit. Navajo Department Of J opinion is that heading lawful.

DELEGATE LORENZO CURLEY
if understand procedure, we are not following procedures. I believe this is designed by Dept of Justice to skirt long standing procedures of Council. Let me explain and I want you to respond. In the past, if we decide to engage in activity, Council say nay or yeah. For example, building of jails. Budget and Finace Committee drew line of credit. That is procedure. Here, I don’t recall legislation saying we buy mine. Council assigned NTEC, delegated task to NTEC and at this point in time, NTEC still engaging in determining if buy mine. And buying mine has not occured and without that authority giving Bates and Investment Committe they can control, approval to get $36 million loan. What DOJ doing. Tell the Navajo pple today that that is not wat u are doing.

NAVAJO NATION DEPT OF JUSTICE DANA BOBROFF
Delegate Curley correct that NTEC established by Council to go forward with decision to buy mine and yes, decision not finalized and still working on that. If the NTEC came back the Investment Committee and asked for some type of financing/assitance, that wud be evaluated under plans of Investment Committee. NTEC, if board decides, then NTEC go to Investment Committee without mentioning, cuz of section 6, that buying mine.

DELEGATE BATES
Where wud be replace jobs? How much more cost that wat considered today? Wat happen to resources that no longer used to generate? And also Council’s concern of water, what happens to 50,000 acre feet and it wud no longer cud become part of nation.

Council created NTEC and not only as manager but generator of electricity that includes renewable energy as future opportunity to generate electricity. Delegate Witherspoon made that amendment.

With shutdown of 1, 2, 3, then units 4 &5 at billon dollars expense wud clean up of Four Corners. Dec. 31, Four Corners Power Plant must comply with EPA requirements. They must make it known on Dec. 31, 2013. Not Navjo Nation but federal govt. As far as Fundamental Law, it look to Creation and how we are to use in harmony, talking resources and jobs,

Energy Policy and Prez: Prez thinks that nation needs E-Policy provides direction for utilizing resources going forward. It is anticipated that other opportunities become associated with E-Policy.

Looking at nearly $46 million and actual impact of both companies going away, it wud reduce to $25 million.

We are still using tribal money cuz NTEC wud carry noted at 6.5 percent, which is $15 million and that $15 m is what the tribe giving up cuz they are carrying note.

When BHP and Four Corners came to Navajo, who was to say tribe become owner and not considered then and now we have that opportunity. we brot in outside parties to buy mine and we will control our destiny. Yes we are dependent on federal govt., $400 million annually. We generate $200 million.

It is investment and steps of many steps to beocme independent. Credibility? Goes back to Delegate Curley concern about how Wall Street lok to nation on purchase. They lok to how tribe invests money and how we spend our money. If BHP and Four Corners goes away that is $85 million gone. as pursue Delegate Katherine Benally’s Bond Financing, Wall Street loks at tribe.