tse -. Agreement between TRne ge, eng oe woe EE ew wm ree ee oe . AGREED MINUTES TRE MARSIIALL ISLANDS or FOR THE GOVERNGNT . eighty-three. ‘ invasion of corpus onty in the event of an unforescen natural disaster or other similar circumstance maxing it necessary to distribuce corpus in order cu pravent hardship co che people of Bikini. commencing one calendar quarter after the firact anniversary of « : Continued page 14 $10 million from which the Enewetak Discribucion Authority shall create the Enewetak Claims Trust Fund (Enewetak Fund), and shall appoint as crusted. and manager of the Enewetak Fund (Enewetak Fund Manager) a United Scacea invescmenc manager with substantial experience in the administration of trusce and wich funds under management in excese The Enewetak Fund shall be of $250 million. invested in accordance with che guidelines set forth in Arcicle I, Section 2(c) of this Agr The Eneweceak Fund Manager shail be the menc. designated recipient of the sums referred co in (2) . $10 million for the paymenc of claims arising out of the Nuclear Testing Program; (1) (a) The people of Enewetak, acting through their local (the Enewetak Distribution Authoricy), may government council elect to assign the payments specified in Article II, Section 3, a financial inscicucion in che United States co of this Agreement in return for an equivalent sum representing the present value ofFor the purpose of this Agreed Minute, it is such payments. assumed chac che equivalent sum payment will amount co $25 Such amount shall be discributed as follows: million or more. and the Governmenc of the Marshall Islands thac: Article II - Distribution of Annual Proceeds, People of Enewetak: Tefe che understanding of the Covernment of the Unite the effective date of chia Agreement, and shall reinvest 30 to 85 percent of income earned by the Bikint Fund for the period eginning one calendar quarter after the fifteenth anniversary of the effective date of this Agreement, The Bikini Fund Manager shall reinvest 65 to 85 percent (d) of income earned by the Bikini Fund for che 15-year period * (c) The Bikini Fund Manager shall diatribute $600,000 of the quarterly amounts of $1.25 million get forth in Article Il, Section 2 of this Agreemenc cto the Bikini Distribution Authority, which shall disburse said sums in accordance with Articles II and The Bikini Fund Manager shall place che Ill of chis Agreement. remaining $650,000 of such quarterly amounts, in trust in the Fund. Bikini the of corpus of this invasion of corpus no more frequently than once avery three years. enc of the sums referred co in Article Il, Section Agreement. ()) From page 1 school ne a ee must Continued page 13 nee ee a eR YOUR NEIGHBORHOOD ST ORE oT day start with prayers. Prayers will be conducted by a clergy or someone from the church. If the major- every elected Rev, Jude Samson whose term was expired as it’s president for a six-year term. Rev. Harry Rakin, whose term on the board was also expired was again reelected to the board. Tipne Philippo is the board’s newest member when he beat former board member Rev. Hirim Langidrik whose term was also expired. - In its meeting today, the conference endorsed President Amata Kabua’s proposal which he explained in a letter to Rev. Samson of his support for prayers The in public schools. conference will » inform Nitijela of their decision. In his letter, Pres. Kabua said Marshalls people are a God fearing people thus Page 9 Conference| Volume 14, Number 56 (2), saxdmum invasion of three percent of corpus, and (1) MARSHALLISLANDS JOURNAL Althea Bing & Compa the Bikini Claims Dyvec Fund (Bikini Fund), and shell eppoint as Crustee and manager’of the Bikini Fund (Bikini Fund Manager) @ United States investment manager with subscancial experience in the administration of crusts and with funds under management in The Bikini Fund shall be invested tn « excess of $250 million. accordance with che guidelines set forth in Article 1, Section ‘. The Bikini Fund shall provide for: 2(c) of this Agreement. ernmenc counett (the Bikini Distribucion Auchoricy), shall create and the Government of che Marshall Islands thac: . FOR THE GOVERNMENT or THE UNITED STATES OF AMERICA June, one thousand, nine hundred DONE at Majuro, Marshall Islands, this 25th day of Article 11 - Distribution of Annual Proceeds Yc Tes the understanding of the Covernment o , IN WITNESS WHEREOF, the undersigned, duly authorized, have signed thie agreement which shall come into effect in accordance with its terms between the Covernmonc of the United States and the Government of the Marshall Islands. Compact of Free Association _the Implomantation of Section 177 of the the Government of the Marshall Islands for the Government of the United States end From page 8 177 continued Friday, July 15, 1983 —— ee