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A RESOLUTION AUTHORIZING MATCHING FUNDS FOR A CHEROKEE NATION ECONOMIC DEVELOPMENT TRUST AUTHORITY GRANT APPLICATION TO THE U.S. TREASURY DEPARTMENT, DCFI FUND, TO ESTABLISH A CREDIT BUILDERS INDIVIDUAL DEVELOPMENT ACCOUNT PROGRAM
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WHEREAS, the Cherokee Nation since time immemorial has exercised its sovereign rights of self-government on behalf of the Cherokee people;
WHEREAS, the Cherokee Nation is a federally recognized Indian Nation with a historic and continual government-to-government relationship with the United States of America;
WHEREAS, the Cherokee Nation Economic Development Trust Authority is a Certified Community Development Financial Institution created by the Cherokee Nation to provide affordable access to consumer/commercial financing, facilitate entrepreneurial development through training/technical assistance, and promote family self-sufficiency through budget/credit counseling;
WHEREAS, the Cherokee Nation Economic Development Trust Authority seeks to apply for financial assistance from the US Treasury CDFI Fund to establish a Credit Builders Individual Development Account Program, which will provide consumers and entrepreneurs access to technical assistance and matching dollars to eliminate past due debt and build their credit scores.
BE IT RESOLVED BY THE CHEROKEE NATION, the Tribal Council agrees to a $180,000 cash match for the Cherokee Nation Economic Development Trust Authority's application to the US Treasury CDFI Fund to develop a Credit Builders Individual Development Account Program.