Resolution No. SI-R21-008: Authorization of an Investment Advisory and Brokerage Account Agreement for Financial Services and Limited Waiver of Sovereign Immunity
At a duly called meeting of the Council of San Ildefonso Pueblo on the 29th day of April , 2021, the following law was adopted:
WHEREAS, the Pueblo de San Ildefonso possesses sovereign immunity from suit and the Council is authorized to decide by law how the Pueblo's sovereign immunity may be waived and in what courts suit may be brought against the Pueblo; and,
WHEREAS, the Pueblo wishes to procure professional financial services from a national financial services firm or firms ("Firm") for services related to the Pueblo's investment funds; and,
WHEREAS, some investment advisory and brokerage account documents may contain a requirement that the Pueblo waive its sovereign immunity from suit in order to enforce the terms of the agreement through arbitration; and,
WHEREAS, it is in the best interest of the Pueblo to authorize the Governor to negotiate and sign any required document with a qualified Firm and to waive the Pueblo's sovereign immunity to enforce such agreements, subject to specific requirements.
NOW THEREFORE BE IT RESOLVED, that the Council hereby enacts the attached law entitled "AUTHORIZATION OF AN INVESTMENT ADVISORY AND BROKERAGE ACCOUNT AGREEMENT FOR FINANCIAL SERVICES AND LIMITED WAIVER OF SOVEREIGN IMMUNITY."
AUTHORIZATION OF AN INVESTMENT ADVISORY AND BROKERAGE ACCOUNT AGREEMENT FOR FINANCIAL SERVICES AND LIMITED WAIVER OF SOVEREIGN IMMUNITY
Section 1.1. Short Title
This enactment shall be known as the "AUTHORIZATION OF AN INVESTMENT ADVISORY AND BROKERAGE ACCOUNT AGREEMENT FOR FINANCIAL SERVICES AND LIMITED WAIVER OF SOVEREIGN IMMUNITY."
Section 1.2. Purpose
The purpose of this Act is to authorize the Governor to negotiate and sign a necessary agreement with a national financial services firm ("Firm") and to approve a limited waiver of the Pueblo's sovereign immunity for enforcement of the agreement through arbitration, if required.
Section 1.3. Findings
The Council hereby finds and declares that:
(a) The Pueblo de San Ildefonso possesses sovereign immunity from suit and the Council is authorized to decide by law how the Pueblo's sovereign immunity may be waived and in what courts suit may be brought against the Pueblo; and
(b) The Pueblo wishes to procure professional financial services from a Firm for services
related to the Pueblo's investment funds; and
(c) Some investment advisory and brokerage account documents may contain a requirement that the Pueblo waive its sovereign immunity from suit in order to enforce the terms of the agreement through arbitration; and
(d) It is in the best interest of the Pueblo to authorize the Governor to negotiate and sign any required document with a Firm and to waive the Pueblo's sovereign immunity to enforce such agreements, subject to specific requirements.
Section 1.4. Authorization
(a) The Council hereby authorizes and directs the Governor to enter into a contract with one Firm, which shall be subject to termination by the Tribe at any time, and to negotiate and sign necessary investment advisory and brokerage account documents with the Firm for the Pueblo's investment funds, including on a sole-source basis to obtain highly specialized investment services and extensive experience.
(b) The Governor is authorized to waive the Pueblo's sovereign immunity from suit for the limited and sole purpose of arbitration of any claims brought under and in accordance with the terms of an agreement with a Firm.
CERTIFICATION
The foregoing resolution was duly voted upon by the Council on April 29 , 2021, at a meeting with a vote of 10 in favor, 0 opposed, 0 abstaining and 0 absent (Governor presiding and not voting) pursuant to the authority vested in the Council by the Agreement of the Pueblo de San Ildefonso.
Terrence K. Garcia, Council Secretary
COUNCIL REPRESENTATIVE SPONSOR(S): Council Representatives
| COUNCIL REPRESENTATIVE | YES | NO | ABSTAIN | ABSENT |
|---|---|---|---|---|
| Terrence K. Garcia | X | |||
| Thelma Gonzales | X | |||
| Thomas Gonzales | X | |||
| M. Wayne Martinez, Jr. | X | |||
| Nichole S. Martinez | X | |||
| Raymond J. Martinez | X | |||
| Denise Moquino | X | |||
| James L. Naranjo | X | |||
| Leon T. Roybal | X | |||
| Nathan Sanchez | X |
DELIVERY OF THE RESOLUTION TO THE GOVERNOR:
Resolution No. SI-R21-008 was presented to the Governor of the Pueblo de San Ildefonso on the 30th day of April , 2021, pursuant to the Governing document of the Pueblo de San Ildefonso ("Agreement"), GOVERNOR, Sec. 4(c), and will become effective after signature by the Governor or veto override by the Council.
Terrence K. Garcia, Council Secretary
{ X } APPROVED
{ } VETO - RETURNED TO COUNCIL WITH EXPLANATION:
On this 3rd day of May , 2021.
Christopher Moquino, Governor
Presented by the Governor to the Council on the _______ day of ________________, 2021.
Override of Governor's veto:
{ } YES
{ } NO
| COUNCIL REPRESENTATIVE | YES | NO | ABSTAIN | ABSENT |
|---|---|---|---|---|
| Terrence K. Garcia | ||||
| Thelma Gonzales | ||||
| Thomas Gonzales | ||||
| M. Wayne Martinez, Jr. | ||||
| Nichole S. Martinez | ||||
| Raymond J. Martinez | ||||
| Denise Moquino | ||||
| James L. Naranjo | ||||
| Leon T. Roybal | ||||
| Irene Tse-Pe |
CERTIFICATION
The foregoing resolution was duly voted upon by the Council on _________________, 2021, at a meeting with a vote of ______ in favor, _____ opposed, _____ abstaining and _____ absent (Governor presiding and not voting) pursuant to the authority vested in the Council by the Agreement of the Pueblo de San Ildefonso.
Terrence K. Garcia, Council Secretary
AUTHORIZATION OF AN INVESTMENT ADVISORY AND BROKERAGE ACCOUNT AGREEMENT FOR FINANCIAL SERVICES AND LIMITED WAIVER OF SOVEREIGN IMMUNITY
Section 1.1. Short Title
This enactment shall be known as the "AUTHORIZATION OF AN INVESTMENT ADVISORY AND BROKERAGE ACCOUNT AGREEMENT FOR FINANCIAL SERVICES AND LIMITED WAIVER OF SOVEREIGN IMMUNITY."
Section 1.2. Purpose
The purpose of this Act is to authorize the Governor to negotiate and sign a necessary agreement with a national financial services firm ("Firm") and to approve a limited waiver of the Pueblo's sovereign immunity for enforcement of the agreement through arbitration, if required.
Section 1.3. Findings
The Council hereby finds and declares that:
(a) The Pueblo de San Ildefonso possesses sovereign immunity from suit and the Council is authorized to decide by law how the Pueblo's sovereign immunity may be waived and in what courts suit may be brought against the Pueblo; and
(b) The Pueblo wishes to procure professional financial services from a Firm for services
related to the Pueblo's investment funds; and
(c) Some investment advisory and brokerage account documents may contain a requirement that the Pueblo waive its sovereign immunity from suit in order to enforce the terms of the agreement through arbitration; and
(d) It is in the best interest of the Pueblo to authorize the Governor to negotiate and sign any required document with a Firm and to waive the Pueblo's sovereign immunity to enforce such agreements, subject to specific requirements.
Section 1.4. Authorization
(a) The Council hereby authorizes and directs the Governor to enter into a contract with one Firm, which shall be subject to termination by the Tribe at any time, and to negotiate and sign necessary investment advisory and brokerage account documents with the Firm for the Pueblo's investment funds, including on a sole-source basis to obtain highly specialized investment services and extensive experience.
(b) The Governor is authorized to waive the Pueblo's sovereign immunity from suit for the limited and sole purpose of arbitration of any claims brought under and in accordance with the terms of an agreement with a Firm.
