Saunooke said that off-air conversations ultimately made her feel comfortable with voting yes. 15 meeting, some Tribal Council members were bothered that the resolution proposed for passage did not specifically state where the $120 million would come from, instead listing five different funds that would be used “in coordination or combination.” Chelsea Saunooke was perhaps the most outspoken member in that regard - she said she would have liked to see the allocation amounts broken down and was reticent about draining the Debt Service Sinking Fund as suggested. The tribe’s plan is to pay back the loan in five years at 5 percent interest, though it would be the newly created LLC, not the tribal government, that would be responsible for servicing the debt.ĭuring the Dec. The resolution does not specify the source of funding for the down payment, the newspaper reported, simply stating that “the tribe will identify the most advantageous funding mechanism to make the equity contribution.” As police shooting victim Jason Harley Kloepfer’s sprawling federal lawsuit makes its way…Īccording to a Facebook post from The Cherokee One Feather, the resolution to purchase the casino operation states that the tribe will contribute up to $120 million in cash and secure up to $160 million in financing.
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