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File #: 16-041    Version: 1 Name: N/A
Type: Resolution Status: Passed
File created: 3/17/2016 In control: TRIBAL COUNCIL
On agenda: 3/31/2016 Final action: 4/18/2016
Enactment date: 4/11/2016 Enactment #: R-035-16
Title: A RESOLUTION AUTHORIZING THE CHEROKEE NATION TO INCUR INDEBTEDNESS AND AUTHORIZING THE APPROVAL OF A LOAN AGREEMENT AND LIMITED WAIVER OF SOVEREIGN IMMUNITY AS PART OF THE UNITED STATES INDIAN HEALTH SERVICE JOINT VENTURE EXPANSION OF THE CHEROKEE NATION TAHLEQUAH OUTPATIENT FACILITY; AND DECLARING AN EMERGENCY
Sponsors: Janees Taylor, Joe Byrd, Rex Jordan, Victoria Vazquez, Frankie Hargis , Shawn Crittenden, Bryan Warner , Curtis Snell, Keith Austin, Harley Buzzard, Dick Lay, Jack D. Baker, Buel Anglen, David Thornton, Sr. , Wanda Hatfield
Indexes: Health, Health Facility, Joint Venture, Waiver of Sovereign Immunity
Code sections: N/A - Not Applicable
Attachments: 1. R-35-16.PDF
Title
A RESOLUTION AUTHORIZING THE CHEROKEE NATION TO INCUR INDEBTEDNESS AND AUTHORIZING THE APPROVAL OF A LOAN AGREEMENT AND LIMITED WAIVER OF SOVEREIGN IMMUNITY AS PART OF THE UNITED STATES INDIAN HEALTH SERVICE JOINT VENTURE EXPANSION OF THE CHEROKEE NATION TAHLEQUAH OUTPATIENT FACILITY; AND DECLARING AN EMERGENCY
Body
WHEREAS, the Cherokee Nation since time immemorial has exercised the sovereign right of self-government on behalf of the Cherokee people; and

WHEREAS, the Cherokee Nation is a federally recognized Indian Nation with a historic and continuing government-to-government relationship with the United States of America; and

WHEREAS, the Cherokee Nation has entered into a Joint Venture Agreement with the United States Indian Health Service for construction of a healthcare facility in Tahlequah, Oklahoma (the “Cherokee Nation Tahlequah Outpatient Facility”); and

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; and

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, Section 61 and Section 62 of the Cherokee Nation Code (62 CNCA §§ 61-62); and

WHEREAS, the Cherokee Nation has determined that it would be most advantageous at this time for the Cherokee Nation to accept and execute a general obligation credit facility loan agreement (the “Loan Agreement”) with a group of lenders (the “Lenders”) to be arranged by BOKF, NA dba Bank of Oklahoma (“BOK”) and approved by the Cherokee Nation in a principal amount of $170,000,000.00, and according to the term structure and amortization schedule identified in the Loan Agreement, to finance construction of the Cherokee Nation Tahlequah Outpatient Faci...

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