COARSEGOLD, Calif.--(EON: Enhanced Online News)--The Chukchansi Tribal Council, headed by Tribal Chairwoman Nancy Ayala, today announced a pre-payment of $5.9 million to its casino bondholders, an amount that represents half of the Tribe’s biannual bond payment of about $12 million, due in full on September 30, 2013. The pre-payment made by the on-rancheria Ayala Quorum Council is meant to reassure bondholders, vendors, business partners and the Tribe’s more than 900 members that the Tribe is moving forward and operating efficiently despite a series of legal challenges and complaints made by former Council members, said Chairwoman Ayala.
“This was a perfect example of casino management and tribal government working seamlessly”
The payment is also meant to ensure that services to Tribal families, elders and children continue uninterrupted and to protect the more than 1,200 jobs created by the Chukchansi casino.
“We continue to work hard seven days a week to keep the Chukchansi Gold casino operating efficiently and driving our Tribe’s economy,” said Ayala. “Our Chukchansi Economic Development Authority (CEDA), working closely with top casino management, approved this $5.9 million payment to make a statement. We have our eyes on the ball, and we’re determined to protect our Tribe’s largest and most critical asset.”
Two members of the CEDA Board -- Tracey Brechbuehl and Dr. Karen Wynn -- expressed satisfaction at making at least a portion of the bond payment early after the Tribe’s March 2013 payment was delayed more than four months by banking problems brought on by the former Council members. The pre-payment was signed by Brechbuehl and Dr. Wynn after approval by the Ayala Quorum Council.
“This was a perfect example of casino management and tribal government working seamlessly,” said Brechbuehl, Secretary of the Tribal Council. “It’s in the interest of every member of our Tribe to put politics aside and do what we need to do to pay off those $250 million in casino bonds. If we don’t do that, every Tribal member will suffer and so will generations to come.”
Dr. Wynn, the Tribe’s Treasurer, called the payment “more good news for the Tribe.”
Said Wynn: “We just keep moving forward and working to get the job done. We’ve had numerous victories in Court, a positive ruling from the Bureau of Indian Affairs reaffirming the leadership of the Ayala Quorum Council, and we keep getting bills paid. Per capita payments, casino bonds payments, elder services, scholarships – that’s why we’re here. To do the business of the Chukchansi people.”