Page:United States Statutes at Large Volume 111 Part 3.djvu/573

 PUBLIC LAW 105-143—DEC. 15, 1997 111 STAT. 2661 (2) The board of directors shall be the trustee of the Self- SufRciency Fund and shall administer the Fund in accordance with the provisions of this section. (b) USE OF PRINCIPAL. — (1) The principal of the Self-Sufificiency Fund shall be used exclusively for investments or expenditures which the board of directors determines— (A) are reasonably related to— (i) economic development beneficial to the tribe; or (ii) development of tribal resources; (B) are otherwise financially beneficial to the tribe and its members; or (C) will consolidate or enhance tribal landholdings. (2) At least one-half of the principal of the Self-Sufficiency Fund at any given time shall be invested in investment instruments or funds calculated to produce a reasonable rate of return without undue speculation or risk. (3) No portion of the principal of the Self-Sufficiency Fund shall be distributed in the form of per capita payments. (4) Any lands acquired using amounts from the Self- Sufficiency Fund shall be held as Indian lands are held. (c) USE OF SELF-SUFFICIENCY FUND INCOME.— The interest and other investment income of the Self-Sufficiency Fund shall be distributed— (1) as an addition to the principal of the Fund; (2) as a dividend to tribal members; (3) as a per capita payment to some group or category of tribal members designated by the board of directors; (4) for educational, social welfare, health, cultural, or charitable purposes which benefit the members of the Sault Ste. Marie Tribe; or (5) for consolidation or enhancement of tribal lands. (d) GENERAL RULES AND PROCEDURES. — (1) The Self-Sufficiency Fund shall be maintained as a separate account. (2) The books and records of the Self-Sufficiency Fund shall be audited at least once during each fiscal year by an independent certified public accountant who shall prepgure a report on the results of^such audit. Such report shall be treated as a public document of the Sault Ste. Marie Tribe and a copy of the report shall be available for inspection by any enrolled member of the Sault Ste. Marie Tribe. (e) TRANSFER OF JUDGMENT FUNDS TO SELF-SUFFICIENCY FUND. — (1) The Secretary shall trginsfer to the Self-Sufficiency Fund the share of the funds which have been allocated to the Sault Ste. Marie Tribe pursuant to section 104. (2) Notwithstanding Einy other provision of law, after the transfer required by paragraph (1) the approval of the Secretary for any payment or distribution from the principal or income of the Self-Sufficiency Fund shall not be required and the Secretgiry shall have no trust responsibility for the investment, administration, or expenditure of the principal or income of the Self-Sufficiency Fund. (f) LANDS ACQUIRED USING INTEREST OR OTHER INCOME OF THE SELF-SUFFICIENCY FUND. —Any lands acquired using amounts

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