WSPC07020 - Laserfiche WebLink

Home Browse Search

~~~~I~~~f2~ . ,< .,..'.., ,.' t) &1;) 9 4 .,.... 4 (b) AD.ruSTMENT.--'To the extent that any portion of such amount is contributed after the period described above or in amounts less than described above, the Tribes shall, subject to appropriation Acts, receive, in addition to the full contribution to the Tribal Development Funds, an adjustment representing the interest income as determined by the secretary in his sole discretion that would have been earned on any unpaid amount h8d that artiount been placed in the fund as set forth in section 7(a). ' (c) TRIBAL DEVELOPMENT.-(l) The Secretary shall, in the absence of an approved tribal investment plan provided for in paragraph (2), invest the moneys in each Tribal Development Fund in accordance with the Act entitled "An Act to authorize the deposit and investment of Indians funds", approved June 24, 1938 (25 U.S.C. 162a). Separate accounts shall be maintained for each Tribe's development fund. The Secretary shall disburse, at the request of a Tribe, the principal and income in its development fund, or any part thereof, in accordance with an economic develop- ment plan approved under paragraph (3). ' (2) Each Tribe may submit a tribal investment plan for all or part of its Tribal Development Fund as an alternative to the investment provided for in paragraph (1). The Secretary shall approve such investment plan within 60 days of its submis- sion if the Secretary finds the plan to be reasonable and sound. If the Secretary does not approve such investment plan, the Secretary shall set forth in writing and with particularity the reasons for such disapproval. If such investment plan is approved by the Secretary, the Tribal Development Fund shall be disbursed to the Tribe to be invested by the Tribe in accordance with the approved investment plan. The Secre- tary may take such steps, as he deems necessary to monitor compliance with the approved investment plan. The United Statell shall not be responsible for the review, approval, or audit ,of any individual, inve,iltment under the plan. The United Statell shall not be directly or, indirectly liable with respect to any, such investment, including any act or omission of the Tribe in managing or investing such funds. The principal and income from tribal investments under an approved investment pIan shall be subject to the provisions of this section and shall be expended in accordance with an economic development plan approved under paragraph (3). (3) Each Tribe shall submit an economic, development plan for all or any portion oHts Tribal Development Fund to the Secretary. The Secretary shall approve such plan within 60 days of its submission if the Secretary frods that it is reasonably re- lated to the economic development of the Tribe. If the Secretary does not approve such plan, the secretary shall, at the time of decision, set forth in writing and with particularity the reasons for such disapproval. Each Tribe may alter the economic development plan, subject to the approval of the Secretary as set forth in this sub- section. The Secretary shall, not be directly or indirectly liable for any claim or cause of action arising from the approval of an ~onomic development plan or from the uae and expenditure by the Tribe of the principal of the funds and income ac- cruing to the funds, or any portion thereof, following the approval by the Secretary of an economic development plan. ' '(d) PER CAPITA DI8TRlBVTlONs.-Under no circumstances shall any part of the principal of the funds, or of the income accruing, to such funds, or the revenue from any water use contract, be distributed to any member of either Tribe on a per capita basis. (e) LIMITATION ON SE'lTING ASIDE FINAL CoNSENT DECREE.-Neither the Tribes nor the United States shall hllve the right to set aside the final consent decree solely because subsection (c) is not satisfied or implemented. SEC. 8. WAIVER OF CLAIMS. (a) GENERAL AUTHoRITY.-The Tribes are authorized to waive and release claims concerning or related to water rights as described in the Agreement. (b) CoNDITION ON PERFORMANCE BY SECRETARY.-Performance by the Secretary of his obligations under this Act and payment of the moneys authorized to be paid to the Tribes by this Act shall be required only when the Tribes execute a waiver and release as provided in the Agreement. SEC. 9. ADMINISTRATION. In exercising his authority to administer water rights on the Ute Mountain Ute and Southern Ute Indian, Reservations, the Secretary, on behalf of the United States, shall comply with the administrative procedures governing the water rights confU'med in the Agreement and the Final Consent Decree to the extent provided in Article IV of the Agreement.