Title
A RESOLUTION AUTHORIZING THE CHEROKEE NATION TO INCUR INDEBTEDNESS AND AUTHORIZING THE APPROVAL OF CERTAIN LOAN DOCUMENTS AND LIMITED WAIVER OF SOVEREIGN IMMUNITY TO THE UNITED STATES FARM SERVICE AGENCY, U.S. DEPARTMENT OF AGRICULTURE, AND THE BANK OF OKLAHOMA IN CONNECTION WITH THE HEIRS' PROPERTY RELENDING PROGRAM (7 CFR Part 769, Subpart B)
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WHEREAS, the Cherokee Nation since time immemorial has exercised the sovereign rights of self-government on behalf of the Cherokee people;
WHEREAS, the Cherokee Nation is a federally recognized Indian Nation with an historic and continual government-to-government relationship with the United States of America;
WHEREAS, the Cherokee Nation enjoys sovereign immunity from suit under federal, state, and tribal law;
WHEREAS, the Cherokee Nation has inherent sovereign authority under the Constitution and tribal law to incur indebtedness, to issue obligations evidencing indebtedness, to secure such indebtedness by a pledge of the full faith and credit of the Cherokee Nation, and to enter into contractual agreements for such purposes;
WHEREAS, pledges of credit for any loans require approval by the Council in accordance with Article X Section 7 of the Constitution and Title 62, Sections 61 and 62 of the Cherokee Nation Code (62 CNCA ?? 61-62);
WHEREAS, the Cherokee Nation has a responsibility to promote the well-being of its tribal citizens and employees, including through responsible and appropriate financial education and affordable financing;
WHEREAS, the United States Congress enacted the Agricultural Improvement Act of 2018 (the 2018 Farm Bill) which, among other things, authorized implementation of the Heirs' Property Relending Program (HPRP) by the United States Farm Service Agency (FSA), U.S. Department of Agriculture (USDA), for the purpose of assisting heirs with undivided ownership interests to resolve ownership and succession issues on farms held by multiple owners by providing loan funds to eligible ...
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