15.1.9.040 Assumption Responsibilities
(a) SIHA is a new organization expected to be operational and designated as the Tribally Designated Housing Entity for the Pueblo by law on or about December 31, 2021. TDHE designation will constitute the initiation of operations, including establishment of its power to assume the RCAC loan on behalf of the Pueblo.
(b) In Section 1.7 b (6) of the San Ildefonso Housing Authority Act, the Authority is delegated the power to borrow money for the purpose of providing housing for tribal members.
(c) This Act authorizes the SIHA to assume responsibility for RCAC Loan No. 6164-NPHA- 01, which was used by NPHA to finance construction of the Deer Tail 1 housing development, at the earliest possible time after TDHE designation.
(d) The Pueblo notes that on October 22, 2021, the Pueblo indicated its intention to assume the loan when it submitted a Governor-approved Indian Housing Plan (IHP) for FY 2022 to provide sufficient Indian Housing Block Grant (IHBG) funds to make full payment on this loan in 2022.
(e) By this Act, the Council directs the new SIHA Board of Commissioners to implement the program and budget of the 2022 IHP pertaining to the RCAC loan by executing a loan assumption agreement with RCAC and making full payment for the loan in 2022 using 2022 Indian Housing Block Grant funding programmed for this purpose.
(f) SIHA is hereby authorized to execute any and all documents required by RCAC relative to the assumption of RCAC Loan No. 6164-NPHA-01.