Page 263 TITLE 25—INDIANS § 647

Such lands shall be subject to foreclosure or sale

pursuant to the terms of such mortgage or deed

to trust in accordance with the laws of the State

of Arizona. The United States shall be an indispensable party to, and may be joined in, any

such proceeding involving said lands with the

right to remove the action to the United States

district court for the district in which the land

is situated, according to the procedure in section 1446 of title 28, and the United States shall

have the right to appeal from any order of remand entered in such action.

(c) Pledge of revenue or other income to secure

indebtedness for development of park; law

governing action to enforce pledge; United

States as party

To pledge any revenue or other income from

lands within said Hopi Industrial Park, and the

improvements situated thereon, and any other

revenue or income that may be available to the

Hopi Tribe without regard to source, to secure

any indebtedness of the Hopi Tribe incurred in

the development of said Hopi Industrial Park,

and any action to enforce said pledge shall be in

accordance with the laws of the State of Arizona, and the United States shall be an indispensable party thereto to the same extent and

under the same conditions as hereinbefore provided in the case of mortgage foreclosures.

(d) Issuance of bonds and payment of costs

thereof; sale of bonds at public or private

sale

To issue bonds for and on behalf of the Hopi

Tribe, and pay the costs thereof, to accomplish

the purposes of this subchapter, in one or more

series, in such denomination or denominations,

maturing at such time or times, and in such

amount or amounts, bearing interest at such

rate or rates, in such form either coupon or registered, to be executed in such manner, payable

in such medium of payment, at such place or

places, subject to such terms of redemption,

with or without premium, and containing such

other restrictive terms as may be provided by

tribal ordinance. Such bonds may be sold at not

less than par at either public or private sale and

shall be fully negotiable.

(e) Appointment of bank or trust company as

trustee for purposes of authorization and

creation of issue of bonds; authority to commence action to enforce obligations to tribe

without joining United States as party

To appoint a bank or trust company with its

home office in the State of Arizona having an officially reported combined capital, surplus, undivided profits and reserves aggregating not less

than $10,000,000 as trustee for all of the purposes

provided in the ordinance authorizing and creating any issue of bonds. Any trustee so appointed

may be authorized to commence an action for

and on behalf of, or on relation of, the Hopi

Tribe to enforce any obligation to the tribe

pledged to secure payment of the bonds without

joining the United States as a party thereto.

(f) Entering business ventures as shareholder, or

as limited partner with corporation, firm or

person operating within park

To enter into any business venture as a shareholder of a corporation issuing nonassessable

stock, or as a limited partner with any corporation, firm or person operating within said Hopi

Industrial Park.

(g) Lease of lands and improvements thereon

To lease lands within the Hopi Industrial

Park, any other tribal lands, and the improvements thereon, in accordance with the provisions of Federal laws.

(Pub. L. 91–264, §2, May 22, 1970, 84 Stat. 260.)

§ 643. Council’s powers subject to approval by

Secretary

The exercise of all powers granted the Hopi

Tribal Council by this subchapter shall be subject to the approval of the Secretary of the Interior, or his duly authorized representatives.

(Pub. L. 91–264, §3, May 22, 1970, 84 Stat. 261.)

§ 644. Bonds as valid and binding obligations

Bonds issued by authority of this subchapter

and bearing the signatures of tribal officers in

office on the date of the signing thereof shall be

valid and binding obligations, not withstanding

that before the delivery thereof and payment

therefor any or all of the persons whose signatures appear thereon have ceased to be officers

of the Hopi Tribal Council.

(Pub. L. 91–264, §4, May 22, 1970, 84 Stat. 261.)

§ 645. Exemption from taxation

All bonds issued by the Hopi Tribal Council for

and on behalf of the Hopi Tribe and the interest

provided in said bonds shall be exempt from taxation to the same extent they would have been

exempt if the bonds had been issued by the State

of Arizona or a political subdivision thereof.

(Pub. L. 91–264, §5, May 22, 1970, 84 Stat. 261.)

§ 646. Exempted securities

Any securities issued by the Hopi Tribal Council (including any guarantee by such council),

and any securities guaranteed by the council as

to both principal and interest, shall be deemed

to be exempted securities within the meaning of

sections 77c(a)(2) and 78e(a)(12) of title 15, and

shall be exempt from all registration requirements of Acts of May 27, 1933, and June 6, 1934.

(Pub. L. 91–264, §6, May 22, 1970, 84 Stat. 261.)

REFERENCES IN TEXT

Acts of May 27, 1933, and June 6, 1934, referred to in

text, were in the original ‘‘said Acts’’, meaning act

May 27, 1933, ch. 38, 48 Stat. 74, as amended, and act

June 6, 1934, ch. 404, 48 Stat. 881, as amended, which are

known as the Securities Act of 1933 and the Securities

Exchange Act of 1934, respectively. Act May 27, 1933, is

classified generally to chapter 2A (§77a et seq.) of Title

15, Commerce and Trade, and act June 6, 1934, is classified principally to chapter 2B (§78a et seq.) of Title 15.

For complete classification of these Acts to the Code,

see Tables.

SUBCHAPTER XXIV—HUALAPAI TRIBE

§ 647. Disposition of judgment fund; deductions;

advances, expenditures, investments or reinvestments for authorized purposes

The unexpended balance of funds on deposit in

the Treasury of the United States to the credit