I’m back in the Navajo Council chamber where the Naabiki’yati’ Committee just convened at 1:55 pm, even though the committee was scheduled to start at 10 a.m.
As I was waiting for the committee meeting to start, I noticed Navajo Transitional Energy Company Board President Steve Gunderson sitting in the Council chamber north conference room and so I started looking through the proposed Naabi agenda and saw that the following proposed LEGISLATION 0149-13: RELATING TO RESOURCES & DEVELOPMENT, AND BUDGET & FINANCE COMMITTEE; APPROVING AMENDMENTS TO CAP-20-13, which deals with Navajo Transitional Energy Company’s operation. Speaker Johnny Naize and Delegate Danny Simpson are the sponsors.
The following is the web address to LEGISLATION 0149-13. And at the end of the 0149-13, which has a HUGE heading, is the PROPOSED NAABIKI’YATI’ COMMITTEE AGENDA.
LEGISLATION 0149-13: TITLE: Relating to Resources and Development and Budget and Finance; Approving The Formation, Organization, Operation and By Laws of the Navajo Transitional Energy
Company L.L.C. Pursuant to the Navajo Nation Limited Liability Company Act; Approving the Creation Organization, Incorporation, and Federal Charter of the Navajo Transitional Energy Company, Pursuant to 25 U.S.C. § 477; Establishing the Companies as Organizations, Entities, and Instrumentalities of the Navajo Nation; Approving and Empowering the Navajo Transitional Energy Company, LLC’s Negotiation and Execution of Agreements, and Performance of Related Actions, Necessary for its Acquisition of One Hundred-Percent (100%) of the Stock of BHP Navajo Coal Company From BHP New Mexico Coal Company (The “Proposed Transaction”) Including Without Limitation, (1) An Agreement to Govern The Acquisition of Such Stock (The “Stock Purchase Agreement”), (II) a Promissory Note to be Issued as Consideration of the Above Reference Stock, (III) an Agreement by Which the Navajo Transitional Energy Company, LLC Will Pledge One Hundred Percent (100%) of the Above-Mentioned Stock to Secure All of its Obligations Under the Foregoing Promissory Note and (IV) an Agreement to Govern the Deposit and Distribution of all Cash Flow Generated From the Operation of the Navajo Mine; in connection With the Proposed Transaction, Approving and Empowering the Navajo Nation Transitional Energy Company, LLC To Cause BHP Navajo Coal Company to Enter Into Certain Agreements or Other Documents (1) for the Sale of Coal From the Navajo Mine to the Owners of the Four Corners Generating Station, (II) to Repay the Above- Referenced Promissory Note and Secure all of the Navajo Transitional Energy
Company, LLC’s Obligations under such Promissory Note, and (III) for the Management and Operation of the Navajo Mine; Approving the Merger of BHP Navajo Coal Company
with the Navajo Transitional Energy Company, LLC (With the Surviving Entity Being the Navajo Nation Transitional Energy Company, LLC), Contemporaneously with or, as a
Condition Subsequent, as Soon as Possible After the Closing of the Transactions Contemplated the Stock Purchase Agreement, and Approving the Merger of the Navajo Transitional Energy Company, LLC With the Navajo Transitional Energy Company (With the Surviving Entity Being the Navajo Nation Transitional Energy Company), as Soon as Possible After (1) Completion of the Merger Between the Navajo Transitional Energy Company, LLC and BHP Navajo Coal Company Referred to Above and (II) Creation of the Navajo Transitional Energy Company.
PROPOSED NAABIKI’YATI’ COMMITTEE