cae me et ee a ee et elie et
ee
Agteenont between
177 continued |
.
the Government of the United States end
From page 8
the Governmenc of the Marshall Islande for
_ the Implomentation of Section 177 of the
Compact of Free Association
.
.
people of Bikini, acting through cheir local gov-
'
remaining
corpus of
(d)
.
4)
MARSHALL ISLANDS JOURNAL
.
of che Nucleer Testing Program;
$10 million from which the Enewetak Distribution
.
Continued page 14
Authority shall create che Enewetak Claims Trust
Fund (Enewetek Fund), and shell appoint as cruscteu.
and, manager of the Enewetak Fund (Enewecak Fund
Manager) a United States investment manager with
eubstantial experience in che administration of
truste and with funds under management in excess
The Enewetak Fund shall be
of $250 million.
inveated in accordance with the guidelines sec
forth in Article I, Seccion 2(c) of this Agreemenc. The Enewecak Fund Manager shall be the
designated recipient of the sums referred to in
school day
- A Aa el
Paye 9
.
must
Continued page 13
start with prayers. Prayers will be conducted by a
clergy or someone from
the church. If the major-
every
In his letter, Pres. Kabua
said Marshalls people are a
God fearing people thus
Nitijela of their decision.
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
Langidrik whose term was
board member Rev. Hirim
board’s newest member
beat former
he
when
elected Rev. Jude Samso
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.
Philippo is the
Tipne
From page 1
Conference
Volume 14, Number 56
invasion of corpus onty in the evenc of an unforescen natural disaster or other similar circum,
stance Claing it necessary to distribute corpus in
order tu prevent hardship te che people of Bikini,
of this
designaced
invasion of corpus no more frequentiy chan once
avecy three years.
(2), maxdrum invasion of chree percent of corpus; and
(3)
.
referred to in Article II, Section
the Bikini Fund.
$650,000 of such quarterly amounts. in truest in the
of
The Bikini Fund Manager shall reinvest 65 to 85 percent
.
(2)
(che Enewetak Distribution Auchority), may
governmenc council
Section J,
epecified in Article If,
elect co assign the peyments
of chis Agreement cto a financial inatirution in che United Scates
in retucn for an equivalenc aum representing che present value ofFor the purpose of thie Agreed Minute, it is
euch payments.
aseumed chat the equivalent sum payment will amount to $25
uch amount shal be discribuced as follows:
million or more.
people
and the Governmenc of the Marshall Uslande chat:
Article II - Distribution of Annual Proceeds, People of Enewetak:
Ye {es the understanding of the Covetnment of the United Scates
che effective dete of this Agreement, and shall reinvesc 30 to 85
percenc of income earned by the Bikini Fund for the period
eginning one calendar quarter afcer the fifteenth anniversary of
the effective date of this Agreemant.
of income earned by the Bikint Fund for the 15-yeer period
commencing one calendar quarter after the firet anniversary
.
(c) The Bikini Fund Manager shall discribure §600,000 of
.
the quarcerly amounts of $1.25 million get forth in Article IL,
Section 2 of this Agreement to che Bikint Distribution Auchority,
which shall disbur
aid sume in accordance with Arcicles Il and
{Il of chis Agreement.
The Bikini Fund Manager shall place the
ent of che sume
Agreemenc.
Friday, July 15, 1983
duly
signed chie agreement which shall come into effect in accordance
The
°-
FOR THE GOVERNMENT
or
THE UNITED STATES OF AMERICA
.
June, one thousand, nine hundred eighty-three.
DONE eat Majuro, Marshall Islands, this 25th day of
the Government of che Marshall Islands.
with ics cerms between the Governmont of the United States and
,
or
VOR THE GOVERMENT
THE MARSIIALL ISLANDS
AGREED MINUTES
Article 11 - Discribution of Annual Proceeds
(a)
Yc Tw che understanding of the Covernment o
and the Government of the Merehall Islands that:
ernment counet\ (che Bikini Dietribucion Auchoricy), shell cre
the Bikini Claias Dyust Fund (S8ikini Fund), and shall appoint
trustee and manager’of che Bikini Fund (Sikini Fund Manager) a
States investment manager with subecancial experience in
Uni
the adminiacration of trusts and with funds under management in
The Bikini Fund shall be invested in %
accordance with the guidelines set forth in Article I, Section
The Bikini Fund shall provide for:
2(c) of this Agreement.
excess of $250 aitllion.
Althea Bing & Company
ee
_ eee:
YOUR NEIGHBORHOOD STORE
Se
ie ee ae