§ 506 Borrowing and Financial Arrangements

A. No borrowing shall be made or entered into without the authorization of the Tribal Council by resolution.

B. All  leases  of  real  property  (typically  land  or  buildings)  and  vehicles  shall  require authorization of the Tribal Council by resolution. C.No leases of property in excess of $5,000 in total payments over the term of the lease shall be entered into without the approval of the Tribal Council by resolution. 

D. Collateral for financing arrangements shall be limited to the assets acquired or leased unless specifically authorized by the Tribal Council by resolution.

E. The Tribal Administrator shall provide a comprehensive record of all debts and financing arrangements and shall ensure that provisions are made for meeting the obligations of such agreements.

[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2