Investments: Apaches on the Bond Path

Apaches on the Bond Path

Council members of the Jicarilla Apache tribe were jubilant last week as they gathered to discuss the use of 55,000 acres of new tribal land. The Jicarilla Apaches had paid for the land with $30.2 million raised by selling tribal revenue bonds, the first offering under a 1983 federal law that permits Indian tribal governments to enter the municipal bond market. Said Jicarilla President Leonard Atole: "We desired this fertile land for future economic development and for the housing needs of our people. The bond issue allows us to manage our financing needs without relying on the Federal Government."

The Apaches...

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