Title
A RESOLUTION SUPPORTING SOLICITATION OF HEALTH CARE FACILITY LOAN PROPOSALS
Body
WHEREAS, the Cherokee Nation since time immemorial has exercised the sovereign rights of self-government in 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, pledges of credit for any loans require approval by the Tribal Council in accordance with Article X of the Constitution and Title 62, Section 61 and 62 of the Cherokee Nation Code (62 CNCA ยงยง 61-62);
WHEREAS, the Cherokee Nation wishes to pledge tribal credit to finance the construction of the Vinita Health Center and Salina Dental Clinic for an estimated amount not to exceed $30,000,000;
WHEREAS, the Cherokee Nation desires to acquire financing for purposes for a term not to exceed 15 years, in conjunction with solicited construction bids, for an amount not to exceed $30,000,000, which shall be repaid through additional cost funding through IHS joint venture and third party revenue.
BE IT RESOLVED BY THE CHEROKEE NATION, that Principal Chief Chad Smith and/or his designee is hereby authorized to negotiate favorable lending rates for financing not to exceed $30,000,000 for the purpose of funding the construction of the Vinita Health Center and Salina Dental Clinic as proposed by Exhibit A attached hereto.