PUBLIC LAW 106-163—DEC. 9, 1999
113 STAT. 1785
for in this Act and in accordance with the authorizations
for appropriations in paragraphs (1), (2), and (3) of section
105(a), together with all interest that accrues in the Fund.
(B) MANAGEMENT BY SECRETARY.—The Secretary shall
manage the Fund, make investments from the Fund, and
make available funds from the Fund for distribution to
the Tribe in a manner consistent with the American Indian
Trust Fund Management Reform Act of 1994 (25 U.S.C.
4001 et seq.).
(2) TRIBAL MANAGEMENT.—
(A) IN GENERAL.—If the Tribe exercises its right pursuant to subsection (a)(4) to withdraw the Fund and deposit
it in a private financial institution, except as provided
in the withdrawal plan, neither the Secretary nor the Secretary of the Treasury shall retain any oversight over or
liability for the accounting, disbursement, or investment
of the funds.
(B) WITHDRAWAL PLAN. —The withdrawal plan referred
to in subparagraph (A) shall provide for—
(i) the creation of accounts and allocation to
accounts in a fund established under the plan in a
manner consistent with subsection (a); and
(ii) the appropriate terms and conditions, if any,
on expenditures from the fund (in addition to the
requirements of the plans set forth in paragraphs (2)
and (3) of subsection (c)).
(c) USE OF FUND. —The Tribe shall use the Fund to fulfill
the purposes of this Act, subject to the following restrictions on
expenditures:
(1) Except for $400,000 necessary for capital expenditures
in connection with Tribal Compact Administration, only interest
accrued on the Tribal Compact Administration Account referred
to in subsection (a)(5)(A) shall be available to satisfy the Tribe's
obligations for Tribal Compact Administration under the provisions of the Compact.
(2) Both principal and accrued interest on the Economic
Development Account referred to in subsection (a)(5)(B) shall
be available to the Tribe for expenditure pursuant to an economic development plan approved by the Secretary.
(3) Both principal and accrued interest on the Future Water
Supply Facilities Account referred to in subsection (a)(5)(C)
shall be available to the Tribe for expenditure pursuant to
a water supply plan approved by the Secretary.
(d) INVESTMENT OF FUND.—
(1) IN GENERAL.—
(A) APPLICABLE LAWS.— The Secretary shall invest
amounts in the Fund in accordance with—
(i) the Act of April 1, 1880 (21 Stat. 70, chapter
41; 25 U.S.C. 161);
(ii) the first section of the Act entitled "An Act
to authorize the payment of interest of certain funds
held in trust by the United States for Indian tribes",
approved February 12, 1929 (25 U.S.C. 161a); and
(iii) the first section of the Act entitled "An Act
to authorize the deposit and investment of Indian
funds", approved June 24, 1938 (25 U.S.C. 162a).
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