34.01.190 Recording of Bonds

After the bonds have been executed, they must be delivered to the Tribal Council. When the bonds are delivered to the Tribal Council, there must be delivered therewith a certified copy of the resolution of the governing body showing their sale. The Tribal Council, or its auditor, business manager, clerk, or secretary, upon receipt of the bonds, shall record, in a separate book provided for the purpose, an accurate description of every bond so issued. In all cases where the recording officer is not an officer of the governing body of the Tribal entity issuing the bonds, there also must be filed a certified copy of all proceedings of the governing body of the Tribal entity issuing the bonds relating to the issue. When the transaction relating to the sale of the bonds is to be consummated, there must be delivered to the recording officer of the governing body of the Tribal entity issuing the bonds a detailed financial statement of the given by the auditor, business manager, clerk, or secretary of the Tribal Council under oath. When the bonds have been recorded as required by this section, and when the recording officer has received the detailed financial statement of the Governing Body, the recording officer shall sign an endorsement on the back of each bond certifying that the bond is recorded in that office, and, that the bond is issued in accordance with law and is within the debt limit of the Tribal entity issuing the bond. No bond is valid without the certificate endorsed thereon.