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U.S. Code as of:
01/19/04
Section 674. Use of funds of the Ute Mountain Tribe of the Ute Mountain Reservation for expenditure and per capita payments; taxation of lands and funds; regulations applicable to loans
Notwithstanding any other provisions of existing laws, the tribal
funds now on deposit or hereafter deposited in the United States
Treasury to the credit of the Ute Mountain Tribe of the Ute
Mountain Reservation, may be expended or advanced for such purposes
and in a manner, including per capita payments, the purchase of
land or any interests therein or improvements thereon and water
rights, as may be designated by the Ute Mountain Tribal Council and
approved by the Secretary of the Interior: Provided, That the
purchase of taxable lands under this authority shall not operate to
remove such lands from the tax rolls: Provided further, That
neither the transfer to the tribe of tribal funds, nor the
distribution thereof to individual members of the tribe, as
provided herein, from those funds consisting of compensation for
lands acquired by the United States Government, shall be subject to
Federal tax: And provided further, That any funds advanced for
loans by the tribe to individual Indians or associations of Indians
shall be subject to regulations established for the making of loans
from the revolving loan fund authorized by section 470 of this
title.
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