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Pueblo de San Ildefonso Code. Findings

The Council hereby finds and declares that:

(a) the Pueblo maintains an investment account to generate income that can be used to meet the needs of the Pueblo and the People; and,

(b) the Pueblo has hired a professional advisor to assist with oversight of the investment account to reduce the Pueblo's risks in investments while also earning a reasonable income from the investments; and,

(c) the Pueblo has realized significant gains over the last several years in the investment account, which has grown over time, even though the market and the investment account have recently decreased; and,

(d) the Pueblo has exercised restraint over the years by withdrawing funds from the investment account on a limited basis so that the account can grow over time; and,

(e) the Council, in consultation with the Governor, has identified the need to supplement the

Pueblo's current operating budget due to a shortfall in revenue for unforeseen Pueblo Projects, and has determined that funds held in reserve in the investment account are needed to address the shortfall.