Navajo Nation receives funds from $554 million settlement WINDOW ROCK, Ariz. _ The Navajo Nation has received funding from a massive settlement in a case that alleged the federal government mismanaged the tribes natural resources, according to a press release from the legislative branch. The $554 million settlement represents the largest, single amount for an American Indian tribe among more than 100 similar cases filed against the U.S. government. The Navajo Nation Council approved it in May. According to the press release, 12 percent goes to the Permanent Trust Fund, 2 percent to the Land Acquisition Fund and 4 percent for the Veterans Trust Fund after attorneys fees are paid. The remaining balance will be $409 million. The legislative branch is holding public hearings on how the funds should be used. The latest was held Saturday at the Southwestern Indian Polytechnic Institute’s Science and Technology Center in Albuquerque, New Mexico. The funds cannot be used or invested until the ongoing legislative public hearings conclude, and legislation is introduced and approved by council said Bates. For a more in-depth coverage, grab your copy of the Navajo Times this Thursday. The newspaper of the Navajo people.
Posted on: Mon, 10 Nov 2014 21:15:50 +0000
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